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Events
Databanks
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Argentina databank May 19 -
Brazil Economics databank May 19
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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 May 12
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Dominican Republic databank May 21
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Ecuador databank May 23
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Gulf Countries databank May 23
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Hungary databank May 20
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India databank Apr 28
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Mexico databank May 12
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Panama databank May 13
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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 May 12
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South Africa databank May 6
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Turkey databank Apr 24
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Ukraine databank May 12
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Venezuela databank May 5
NEWS FLASH
WEBINAR - LATIN AMERICA: FISCAL PRESSURES AND POLITICAL SHIFTS...
COUNTRY INSIGHTS
The electricity rate frozen until further notice
DOMINICAN REPUBLIC · In Brief · 21 Jul 2022
According to the Electric Pact, a new quarterly adjustment of the electricity rate was required in July-September, which was issued on June 30 by the Superintendency of Electricity (SIE). However, this increase was rescinded by the SIE since two days ago the government asked the Economic and Soci...
The South African Reserve Bank accelerates policy normalization with a 75-bp interest rate hike
SOUTH AFRICA · Report · 21 Jul 2022
The Reserve Bank’s Monetary Policy Committee (MPC) voted to hike the benchmark interest rate by 75 basis points, the second consecutive increase of an above-25 bp magnitude, following the conclusion of its fourth meeting of the year. As such, the repo rate has increased to 5.5% from 4.75%, while ...
Volatility is the new normal
CHILE · Report · 21 Jul 2022
Economic activity is decelerating, while confidence is receiving simultaneous knocks on several fronts. The proposal for a new Constitution is a source of economic uncertainty: the proposed text is vague, and while introducing many principles and rights fails to solve some evident conflicts of in...
Russia fines Google USD 360 million
RUSSIA / FSU POLITICS · In Brief · 21 Jul 2022
On July 18 a court fined the company for not taking down material that Russia calls fake news. Roskomnadzor (the Russian Communications Commission) said that Google had allowed extremist and terrorist propaganda to stay up, including incitement for minors to protest. The government has been getti...
Nothing new on the MPC front
TURKEY · In Brief · 21 Jul 2022
The Monetary Policy Committee kept the policy rate unchanged at 14% at today’s meeting, as expected. There is almost nothing material to report, but we share a few thoughts anyway. The statement says (link here) growth has remained robust in Q2, with “stronger job growth than peers” (which is a n...
Ciro Gomes’s candidacy for the Planalto Palace has been officially launched, the Lula-Alckmin ticket will be officially launched today, and the government’s economic measures have had a positive effect on Bolsonaro’s popularity
BRAZIL POLITICS · Report · 21 Jul 2022
Ciro has not yet chosen his vice president, but he has said that as far as he is concerned, it will be a woman. He has not had the best performance in the polls - registering around 6% to 8%. He said he will resolve the debt crisis that affects 66 million Brazilians. Today, the PT will hold its c...
The short-term and medium-term outlook for export-led growth
INDIA · Report · 21 Jul 2022
During the pandemic, Developed Markets consumers supported the world economy by buying more goods, and there was a great export boom in India. This export boom is likely to subside, given the combination of DM fiscal policy normalization, monetary tightening, and DM consumers' rotating away from ...
Manufacturing activity remains fairly strong on domestic demand
ISRAEL · In Brief · 21 Jul 2022
The PMI increased in June by 0.8 points to 53.4 points, moving higher for the third straight month. The domestic orders component increased by 6.4 points to 58.5 (strong expansion) while export orders declined by 4 points to 49.7 (no growth). The production component increased to 57.2 points whil...
Putin in Iran and meets Turkish President
RUSSIA / FSU POLITICS · In Brief · 20 Jul 2022
On July 19 Putin flew to Teheran and met the leaders of Iran and Turkey. Turkey is the NATO country with the best relationship with Russia. This is due to economic ties but also the need to prevent Russia from being too helpful Armenia. Putin discussed allowing Ukrainian grain to be shipped out ...
Some in the MDB are trying to postpone the party’s convention, Jair Bolsonaro’s meeting with ambassadors is still causing repercussions, and Petrobras announced a drop in fuel prices
BRAZIL POLITICS · Report · 20 Jul 2022
The MDB party convention is scheduled for July 27 and will be held virtually. The pro-Lula wing has claimed that support for the PT’s candidacy would be a way to avoid institutional conflict given President Jair Bolsonaro’s criticism of the electronic voting machines. The goal is to postpone it t...
Still no improvement in China’s economic performance
CHINA FINANCIAL · Report · 20 Jul 2022
Special points to highlight in this issue: * GDP growth in the second quarter of 2022 came in well below already-low expectations. GDP was up in real terms by just 0.4 percent relative to GDP in the second quarter of 2021, and it was down 2.6 percent relative to GDP in the first quarter of 20...
The end of the Jamaica bid (for now)
JAMAICA / BAHAMAS · Report · 19 Jul 2022
The recent collapse of the near 22-year-old support for the Jamaican yield curve from Jamaican buyers, or the so called "Jamaica bid", is worthy of a detailed overview on its own. The timeline really begins with the Bank of Jamaica (BOJ) beginning its interest rate tightening cycle in the second ...
New Russian pipeline to cross Mongolia
RUSSIA / FSU POLITICS · In Brief · 19 Jul 2022
On July 19 the Prime Minister of Mongolia said that the natural gas pipeline will go to China. It is the Power of Siberia 2 Pipeline. Russian gas that used to be sold to the EU is being redirected to China. The pipeline is projected to be completed in 2030. It is doubtful that it will be complete...
Kazakhstan seeks to attract businesses that have left Russia
RUSSIA / FSU POLITICS · In Brief · 19 Jul 2022 · 1 response
On July 14 the President of Kazakhstan said his country wishes to welcome hundreds of Western businesses that have left Russia to set up in his country. Moscow will not like this. Kazakhstan is in the CSTO and the Eurasian Union, which are both Russian led. The country has refused to recognize Lu...
Bolsonaro criticized electronic voting machines at a meeting with ambassadors, the Novo party filed a lawsuit against the Social Benefits Constitutional Amendment, and Senator Simone Tebet suffered yet another setback
BRAZIL POLITICS · Report · 19 Jul 2022
Bolsonaro brought known arguments against the machines and said Ministers Edson Fachin, Alexandre de Moraes and Luis Roberto Barroso lack neutrality. Minister Fachin, as well as candidates for the presidency criticized President Jair Bolsonaro’s statements. The STF is in recess, and a date for a ...