NEWS FLASH
The BJP has rolled back the proposal of applying MAT on foreign investors. Until the fine print is read, we cannot be sure about what the tax authorities have done. And, the increase in the withholding tax from 5% to 18% stands. On financial reform, three issues hav...
In a plan to develop tourism as a main public revenue source, the government has launched a massive marketing campaign it calls “All you need is Ecuador” – a slogan meant to evoke the Beatles’ song “All You Need is Love.” President Rafael Correa traveled to the United...
Insecurity remains a complicated issue for the administration of President Enrique Peña, which has long cited positive trends in crime rates to refute critics, many of whom have warned since the very first days of the Peña administration that it lacks a clear strat...
The positive dynamic we observed in private consumption over the course of the second half of 2014 extended through the first quarter of 2015. Diverse variables have contributed to the extension of that positive trend. For starters, the economy’s formal sector wage...
The rebound of the ruble is one of the most remarkable and unexpected developments of recent months. After falling to local lows at the end of January, the currency has been strengthening for three months, appreciating by almost 38% against the dollar, and nearly 44...
Private consumption and investment were the key drivers of economic activity in 2014: household consumption was up a faster 5.1% in Q4, despite spending slowdown driven by the deteriorated oil outlook. The consumption of non-durables (33% of total consumption) expan...
With most polls showing the opposition more than 30 percentage points ahead of the PSUV, the official party will be hard pressed to win December’s legislative elections. International pressure to free political prisoners and allow observers to monitor the elections ...
Domestic tensions eased significantly in March and April. While economic problems and the military threat are still on the agenda, a dearth of breaking news from the Eastern front, and a strengthening of the hryvnia (to 22 per $1, from 30 in February) relie...
The House committees analyzing the fiscal austerity provisional measures may vote on the measures. In the Senate, the index for state and municipal debt with the federal government may be voted upon. The Central Bank sets the benchmark interest rate.President Dilma Rousseff will consider makin...
In coming days President Maduro will be announcing the minimum wage increase for May 1, Labor Day. The government’s urgency to regain public support ahead of the elections will lead to stronger and more frequent minimum wage increases this year.
Our base case for 2015 is that Maduro wi...