Services

NEWS FLASH

UPCOMING WEBINAR - LATIN AMERICA IN 2026: INFLATION, POLICY AND POLITIC...

Learn More

COUNTRY INSIGHTS

NBU holds rate at 15.5% amid concerns over depreciation pressures
UKRAINE · In Brief · 23 Oct 2025

The NBU Board left the prime rate unchanged at 15.5% for the fifth time in a row, to the dissatisfaction of the financial sector, which had expected the regulator to begin an easing cycle in Q4 2025, as outlined in its September communication. According to the press release, the NBU is concerned ...

The STF published the ruling that convicted Bolsonaro, the House approved a PEC that grants lawmakers oversight authority over autonomous agencies, and the Senate will hold a public hearing on income tax reform
BRAZIL POLITICS · Report · 23 Oct 2025

The Supreme Federal Court (STF) yesterday published the ruling of its First Panel, which convicted former President Jair Bolsonaro and seven other defendants of attempting a coup d’état. This opens a five-day window for filing motions for clarification, which seek to address specific points in th...

Kazakhstan macro: recent economic and financial data suggest a coming slowdown in growth
KAZAKHSTAN · Report · 23 Oct 2025 · 1 response

Our previous report highlighted that despite strong economic growth, several paradoxes have surfaced in the Kazakh economy, suggesting a potential slowdown amid inevitable economic policy changes. One such shift involves an evolving fiscal policy and a seemingly more cautious use of public funds....

MPC does the expected, says disinflation slowed, risks more pronounced
TURKEY · Report · 23 Oct 2025 · 1 response

The CBRT/MPC reduced the policy rate by 100 bps to 39.5% today, in line with (median) expectations, which we had posited as a compromise move of sorts in our Sunday post, so we were not surprised. The key change in today’s statement pertains to the paragraph on inflation developments and outlo...

2026 National Budget: the challenges of governance and fiscal consolidation
PHILIPPINES · Report · 23 Oct 2025

The Philippines' 2026 P6.8-trillion national budget reflects the government’s effort to sustain social spending but exposes persistent weaknesses in fiscal governance. Despite reallocations from flood control to education, health, and food security, unprogrammed appropriations worth P250 billion...

Industry posts increasingly unimpressive performance
RUSSIA ECONOMICS · In Brief · 23 Oct 2025

Rosstat reported that industrial output grew by 0.7% y-o-y in 9M25. In 3Q25 and September alone, it increased by 0.5% and 0.3% y-o-y, respectively. However, seasonally adjusted figures show the industry contracted by 1.0% m-o-m last month. The mining sector seems to be stabilizing, though still i...

Unmasking corruption and irregularities in public works: disasters, governance and growth
PHILIPPINES · Report · 23 Oct 2025

The Philippines again tops the 2025 World Risk Index as the world’s most disaster-prone nation—an outcome shaped as much by geography as by weak governance. Typhoons, floods, and earthquakes expose not only natural hazards but also institutional failures: substandard infrastructure, unfinished pr...

Russia: a brief market watch
RUSSIA ECONOMICS · In Brief · 23 Oct 2025

Despite considerable geopolitical turbulence, the FX market remains surprisingly calm, showing only moderate ruble volatility. The money market situation, however, appears mixed. RUONIA is trading well below the key rate (16.4% vs 17%), yet banks’ net liquidity position with the CBR hovers near z...

Dominican Republic issues USD 1.6 bn 10-year bond at 5.875%
DOMINICAN REPUBLIC · In Brief · 22 Oct 2025 · 1 response

With today's issuance of a USD 1.6 billion sovereign bond, the Dominican Government covers its financing needs for 2025. The bond carries a 10-year maturity and an annual interest rate of 5.875%. Investor demand for the placement reached USD 5.0 billion. The Ministry of Economy and Finance stated...

China’s rare-earth strategy may be a high-risk move
CHINA FINANCIAL · Report · 22 Oct 2025

Special points to highlight in this report: - Beijing’s export controls on rare earths may be part of a very high-risk strategy to manage China’s position in the global trade conflict. Because deficit countries are usually in a much stronger position in a trade conflict over the medium term, ...

The government should submit two bills to increase revenue, urgent status was approved for the bill prohibiting airlines from charging for carry-on luggage, and Lula is expected to announce the next STF justice after his trip
BRAZIL POLITICS · Report · 22 Oct 2025

Finance Minister Fernando Haddad (PT) said the government will send two new bills to Congress restoring key points from Provisional Measure (MP) 1,303/25, which was struck down by the Lower House. According to him, one bill will address spending cuts, while the other will cover taxation of fintec...

Slide presentation and webinar replay: Chile election briefing - Going into the first round
CHILE · Presentation · 22 Oct 2025 · 1 response

What is the current state of play ahead of Chile's first round of elections? Who is favored to advance and win the presidency? What trends will shape the likely composition of Congress? View the slide presentation or watch the replay from our webinar featuring GlobalSource Partners' Chile Anal...

Refinery fire to affect inflation prospects, reduce potential for cutting the base rate
HUNGARY · In Brief · 22 Oct 2025 · 1 response

New information regarding yesterday's fire at MOL's oil refinery suggests that the plant has temporarily lost about 40% of its productive capacity for a yet unknown period. Initial estimates for the time required to repair the damaged capacities range from a few weeks to several months. As we sai...

Fire at Hungary's only oil refinery, damage unknown yet, domestic supply of refined products remains safe
HUNGARY · In Brief · 21 Oct 2025

Last night, a serious fire broke out at Dunai Kőolajfinomító (DUFI), Hungary's only oil refinery. DUFI is owned by MOL Group, a publicly-traded company, in which the government owns a controlling stake. According to MOL, the fire affected the biggest one out of the refinery's three distillation u...

The "Bessent effect" is a game changer, but not for the reasons some people think
ARGENTINA · In Brief · 21 Oct 2025

Economy Minister Luis Caputo has described recent U.S. financial assistance as a “game changer” for Argentina. That characterization is accurate — though not for the reasons many government supporters claim. The U.S. aid package does not provide a shortcut to peso stabilization or pave the way fo...

Copyright 2025 GlobalSource Partners. All rights reserved.