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Events
Databanks
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Argentina databank Apr 30 -
Brazil Economics databank Apr 14
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Central America databank May 1
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Chile databank Apr 7
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China databank Mar 21
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Colombia databank Apr 28
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Dominican Republic databank Apr 28
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Ecuador databank Apr 22
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Gulf Countries databank May 9
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Hungary databank Apr 22
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India databank Apr 28
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Mexico databank Mar 25
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Panama databank Jan 28
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Peru databank Apr 28
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Philippines databank May 8
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Poland databank Apr 29
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Russia Economics databank Apr 11
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South Africa databank May 6
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Turkey databank Apr 24
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Ukraine databank Mar 6
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Venezuela databank May 5
NEWS FLASH
UPCOMING WEBINAR - PANAMA IN FOCUS: US RELATIONS, CANAL STRATEGY AND FI...
COUNTRY INSIGHTS
Back on the grey list
PHILIPPINES · In Brief · 29 Jun 2021
At the end of its plenary on June 25, the Paris-based Financial Action Task Force (FATF) announced that it is adding the Philippines to its list of jurisdictions under increased monitoring, widely referred to as the “grey list.” The latest list contains 22 countries and includes only two other So...
Debt and growth are slowly stabilizing
CHINA FINANCIAL · Report · 29 Jun 2021
• Analysts are increasingly worried that credit growth and economic activity are slowing at an unexpectedly rapid pace in China. I think however that this is mostly a consequence of their overly optimistic expectations for 2021, based on their misunderstanding of the way Beijing constructs and ac...
Sen. Randolfe Rodrigues reports President Jair Bolsonaro in the Supreme Federal Court for the crime of malfeasance in the purchase of the Covaxin vaccines, and Minister Bento Albuquerque asks the population to use less water and energy
BRAZIL POLITICS · Report · 29 Jun 2021
The Prosecutor General of Brazil will deal with the case against President Bolsonaro. State Dep. Fausto Junior should testify in the COVID CPI today. The CPI should decide whether it will summon Dep. Ricardo Barros. The National Electric Energy Agency meets to discuss taxes. Congress believes Tax...
Removal of further Covid restrictions is taking place
HUNGARY · In Brief · 29 Jun 2021
In our latest report last week, we wrote that local Covid news was just excellent. Well, it still is, or more accurately it has even improved further since then. This morning, the 7-day average of daily new infections was at 56 and daily Covid deaths were at only 4 cases. At present, a total of 1...
The first HPAL plant started commercial operations
INDONESIA · Report · 29 Jun 2021 · 1 response
Indonesia has enjoyed a number of commodities booms in the past few decades, from a sugar boom, to a rubber boom, and an oil boom, with the most recent the coal and CPO booms. Although the performance of crude palm oil and coal was very good, Indonesia is also enjoying the coming of the nickel bo...
On Recovery, Bitcoin and Immigration
CENTRAL AMERICA · Report · 28 Jun 2021
Costa Rica shows signs of recovery attributable to the fast pace of growth in developed economies, despite the intensification of COVID-19 mainly during April and May, and a partial reversal in June. In fact, mobility restrictions were re-introduced, and continued in June. Some acceleration of va...
Politics: Morena scores gains on the state level along with losses in the aggregate vote
MEXICO · Report · 28 Jun 2021
Analysts across the political spectrum are studying Morena's performance in the June 6 mid-term elections. At stake is the future of the Fourth Transformation, President Andrés Manuel López Obrador’s project for a radical transformation of Mexican society. Continuing the 4T after AMLO leaves offi...
Economics: Banxico increases interest rate to 4.25% in bid to control inflation
MEXICO · Report · 28 Jun 2021
On Thursday, Banxico increased the interest rate by 25 basis points to 4.25%, surprising the market, which generally expected it to remain unchanged as part of a temporary pause following 12 consecutive rate declines since August 2019. The change in the benchmark rate reflects Banxico's intention...
The outlook on Tax Reform and other weekly topics
BRAZIL POLITICS · Report · 28 Jun 2021
The House begins to discuss the bills that deal with Tax Reform (the income tax and the Contribution on Goods and Services). The Senate may vote on Provisional Measure 1040/21, which improves the business environment, and the program on tax debts. On July 1, the Superior Courts begin their mid-ye...
Inflation Reports – Points and Counterpoints
BRAZIL ECONOMICS · Report · 28 Jun 2021
Well-prepared Inflation Reports help to understand the progress of the economy by attaching the proper weights to the risks and forecasting the monetary policy movements. In the last Inflation Report (IR), the Central Bank sought to demonstrate that the elevation of the SELIC rate to a level comp...
Turkey Covid Watch - June 28, 2021
TURKEY · Report · 28 Jun 2021
Covid cases remained low in the 5-6K range over the past two weeks and vaccinations are up sharply. Curfews will end as of July 1. The circulation of the delta variant is still limited, but an expected surge in travel from Russia poses a risk of importing more cases.
US Embassy in Moscow barely functioning despite detente
RUSSIA / FSU POLITICS · In Brief · 28 Jun 2021
On June 28 the US Ambassador to Russia announced that as of August 1 2021 most consular services will be suspended until further notice. That is because of the shortage of clerical staff. Russia forbade the embassy from hiring non-Americans in May 2021. Therefore, the embassy does not have the st...
Dep. Ricardo Barros denies involvement in the purchase of Covaxin, State Dep. Fausto Junior and businessman Carlos Wizard testify in the COVID CPI this week, and the Tax Passport may also be voted on this week
BRAZIL POLITICS · Report · 28 Jun 2021
Senator Alessandro Vieira is working on summoning Deputy Barros to the COVID CPI. Senator Randolfe Rodrigues wants the Prosecutor General of Brazil to investigate President Jair Bolsnaro on the Covaxin issue. The Senate may vote on Provisional Measure 1040 and the Tax Passport.
OFZ: Institutional investors build exposure to OFZ, but pace is likely to decline
RUSSIA ECONOMICS · Report · 28 Jun 2021
Russian institutional investors continued to build their OFZ portfolio in 1Q21, according to CBR data, by R46 bln (1.8%). Despite the negative dynamics of ruble interest rates in the beginning of 2021, they continued to increase their exposure to OFZ, adding 2% in nominal terms in 1Q21. We suppos...
Preparing for talks
VENEZUELA · Report · 28 Jun 2021
Groundwork is being laid for talks sponsored by Norway to take place between the government and the opposition. They might begin in August. Both sides seem motivated, given that the Maduro government needs sanctions lifted so it can govern, and the opposition needs to re-engage its base. At th...