Services

NEWS FLASH

UPCOMING WEBINAR - CHILE ELECTION BRIEFING: GOING INTO THE FIRST ROUND...

Learn More

COUNTRY INSIGHTS

TOPIC OF THE WEEK: CCA currency appreciation has come to an end
CAUCASUS / CENTRAL ASIA · Report · 26 Sep 2025

In mid-June I asked how long the CCA currency strength (vs the US$) would continue. My key thesis was that, beyond the myriad relevant macro stats, this would critically depend on the RUB. In short, I argued that the ongoing strengthening of local currencies vs the US$ would only have legs until ...

Mixed results in GDP growth and IMAE. The ACP and Mulino could learn how to generate a positive climate for the new Canal projects from the previous Canal expansion.
PANAMA · Report · 26 Sep 2025

Panama’s economy slowed in Q2 2025, with GDP growth decelerating to 3.4% year on year from 5.2% in Q1. The main drag on growth came from the transportation sector, particularly the Panama Canal, where growth dropped sharply as the inter-annual boost from improved water levels faded and the ongoin...

New inflation report does not point to a lower MNB base rate in the foreseeable future
HUNGARY · In Brief · 26 Sep 2025

The monthly rate-setting meeting of the Monetary Council was held three days ago, and the Q3 inflation report was published yesterday. At the meeting, no rate or other policy action was taken, and the existing "careful and patien" policy approach, together with the Council's hawkish forward guida...

Russia: a brief market watch
RUSSIA ECONOMICS · In Brief · 25 Sep 2025

The fixed income market reacted negatively to CBR officials' comments following the decision to lower the key rate from 18% to 17% on September 12. Monetary authorities have highlighted fiscal policy risks and indicated a more cautious stance on further rate cuts. Consequently, long-term OFZ yiel...

Industry’s performance remains unimpressive in August
RUSSIA ECONOMICS · In Brief · 25 Sep 2025

Although Rosstat reported a seasonally adjusted output increase of 0.7% m-o-m in August, this figure seems weak considering the contractions of 1.6% in June and 0.6% in July. For 8M25 and August alone, industry grew by 0.8% and 0.5% y-o-y, pointing to an overall growth of around 0.0% to 0.5% for ...

Economic stagnation meets polarized elections
CHILE · Report · 25 Sep 2025

Since February 2023, the Chilean economy has grown at an average rate of about 2.5%. The path, however, has been marred by sharp swings. July’s Monthly Index of Economic Activity (IMACEC) rose 1% m/m (sa) and 1.8% y/y, recovering part of June’s drop. Health services led July’s rebound. This is mo...

The Senate CCJ unanimously struck down the Privileges PEC, the rapporteur on MP 1303 presented his report on the measure, and the vote on the income tax exemption bill is scheduled for next week
BRAZIL POLITICS · Report · 25 Sep 2025

After strong political and popular backlash against the “Privileges Constitutional Amendment Proposal (PEC),” the Senate’s Constitution and Justice Committee (CCJ) unanimously approved Senator Alessandro Vieira’s (MDB-SE) report deeming the measure unconstitutional. Congressman Carlos Zarattini (...

Market calm returns to Argentina after President Trump and US Secretary Bessent pledge strong support
ARGENTINA · In Brief · 24 Sep 2025

Last week, Argentina’s economy faced intense pressure as the nominal exchange rate hit the ceiling of its exchange band and country risk surged to 1,450 basis points. Yet, the government, led by President Javier Milei and Economy Minister Luis "Toto" Caputo, pulled off two bold moves that swiftly...

Trump said he should meet with Lula next week, the submission of the report on the Amnesty Bill was postponed, and the Senate may vote on the bill that establishes the Management Committee for the IBS tax
BRAZIL POLITICS · Report · 24 Sep 2025

During a UN meeting yesterday, President Donald Trump said he had a brief conversation with President Lula and that the two will hold a meeting next week. In an interview with CNN, Foreign Minister Mauro Vieira stated that the conversation is expected to take place by phone or videoconference. On...

Headwinds to imports of Russian oil are intensifying
HUNGARY · In Brief · 24 Sep 2025

Following the obvious failure of his Alaska initiative, President Trump has decided to move to Ukraine's side most recently. On different occasions and through various means, including his own social media platform, his energy minister, and also talking at a press conference at the UN general ass...

Next Stop: Ankara
TURKEY · In Brief · 24 Sep 2025

Early yesterday, an Ankara prosecutor ordered the arrest of 13 employees of the Ankara Metropolitan Municipality and independent contractors on charges of “overspending” ca. TL 150 mn ($4-5 mn depending on the exchange rates prevailing at the date of events). These accusations had been headlined ...

Boluarte attempts to boost approval ratings; post-election risk falls, but near-term election risk will impact economy; local market rally weakens
PERU · Report · 23 Sep 2025

We cover three topics in this September forecast report. First, in politics, having adjusted our forecast in August, we now believe with 80% probability that President Dina Boluarte will complete her current term, scheduled to end in July 2026. We examine how Boluarte has attempted to boost her p...

Kazakhstan macro: economic growth backed by rapidly expanding domestic credit to decelerate
KAZAKHSTAN · Report · 23 Sep 2025 · 1 response

According to the Ministry of National Economy’s flash estimate, the nation’s GDP grew by 6.5% y-o-y in 8M25. Earlier, the Ministry estimated economic growth in 7M25 at 6.3%. Prior to that, the Bureau of National Statistics reported that GDP grew by 5.6% and 6.2% y-o-y in 1Q25 and 1H25, respective...

The Lower House president will meet with party leaders to discuss this week’s agenda, the opposition continues to push for the amnesty bill, and the rapporteur of the measure on taxing betting should present his report
BRAZIL POLITICS · Report · 23 Sep 2025

The President of the Lower House, Hugo Motta (Republicanos–PB), will meet with party leaders to discuss this week’s agenda. Two topics are expected to draw the most attention: the income tax exemption and the amnesty proposal. On the amnesty issue, the opposition continues to push for a broad tex...

A window of opportunity in the legislative agenda and other weekly topics
BRAZIL POLITICS · Report · 22 Sep 2025

President Lula is on his first trip to the United States since Donald Trump was elected president. The U.S. has pledged to announce new sanctions against Brazil. Party leaders continue negotiating a text to grant amnesty to those accused and convicted of attempting a coup d’état. The government i...

Copyright 2025 GlobalSource Partners. All rights reserved.