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Events
Databanks
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Argentina databank Jun 13
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Brazil Economics databank Jun 16
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Central America databank Jun 27
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Chile databank May 27
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China databank Mar 21
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Colombia databank Jun 5
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Dominican Republic databank Jun 18
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Ecuador databank Jun 20
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Gulf Countries databank Jun 27
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Hungary databank Jun 23
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India databank Jun 26
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Mexico databank Jul 1
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Panama databank May 13
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Peru databank Jun 27
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Philippines databank Jun 6
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Poland databank Apr 29
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Russia Economics databank Jun 16
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South Africa databank Jun 9
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Turkey databank Apr 24
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Ukraine databank May 12
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Venezuela databank Jun 4
COUNTRY INSIGHTS
Gross Reserves Fell to 5% in August
UKRAINE · In Brief · 09 Sep 2013
Gross foreign reserves declined $1.1 billion (4.7% m/m) in August down to $21.65 billion or 2.4 months of future imports, according to the Central bank report on September 6th.It is the lowest level of gross foreign reserves over the last seven years. Still in 2006 when Ukraine had reserves near...
Mexico's Fiscal Reform and Economic Package for 2014: Back to Deficit Financing
MEXICO · In Brief · 09 Sep 2013
The government announced today a very significant fiscal package for 2014, as well as an ambitious fiscal reform. In essence, both proposals are oriented to increase public sector revenues in order to augment spending in four distinct areas, two traditional and two new ones. The former include mo...
Weekly Tracker: September 8-14
TURKEY · Report · 08 Sep 2013
Executive Summary Obama is not guaranteed to receive the go-ahead for Syria from the House.An airstrike on Assad’s assets will degrade his capacity to execute the war and give the rebels the upper hand. Yet, the threat of Shia Axis taking revenge on Turkey can’t be dismissed. Ankara is on the ver...
Minor Rotations
RUSSIA / FSU POLITICS · Report · 06 Sep 2013
The Ministry of Economic Development, the Central Bank and the Presidential Administration are currently engaged in a process of widespread top management rotation. New heads of agencies are bringing in their former employees, thereby significantly influencing the work of agencies as a whole. Alt...
One Step Closer to Compensation
VENEZUELA · Report · 06 Sep 2013
After almost six years, the International Centre for Settlement of Investment Disputes (ICSID) issued a ruling in the case ConocoPhillips vs. the Bolivarian Republic of Venezuela (ICSID Case No. ARB/07/30) on the expropriation of ConocoPhillips’ stake in Petrozuata, Hamaca and Corocoro. The rulin...
Bold Move: Banco de Mexico Reduces Interest Rates
MEXICO · In Brief · 06 Sep 2013
Banco de México announced an interest rate reduction (domestic interbank rate), of 25 basis points, to an annual 3.75%.The reasoning behind México’s central bank is based on two main factors: i) the fact that consumer inflation has diminished to an annual 3.5%, clearly below the upper bound of th...
Money Supply Jumps 30%
PHILIPPINES · In Brief · 06 Sep 2013
As expected, the mandated partial removal of trust funds from the BSP's SDA facility contributed to a substantial 30% increase in M3 in July compared with an already high 20% the previous month. In addition to accelerated growth in deposit levels, the BSP also attributed the increase to higher f...
Ground Prepped for Soft Landing?
INDONESIA · Report · 05 Sep 2013
Executive Summary The Indonesian economy has shown signs of overheating over the past few months. The Consumer Price Index has risen significantly, given higher domestic fuel prices, the flawed trading system and Ramadan festivities. We’re seeing further economic pressures in the form of a con...
Mexico’s State of the Union: 120 days to go
MEXICO · In Brief · 05 Sep 2013
On Monday, President Pena Nieto gave his State of the Union address before a very small and select audience at the presidential residence of Los Pinos. He chose a smaller venue because since last week, Mexico City has been taken over by the dissident group of teachers who have been protesting aga...
Monetary Policy Report Reinforces Previous Messages
CHILE · Report · 05 Sep 2013
In the Monetary Policy Report presented yesterday to Congress, the Central Bank reinforced the message that it has been providing over the past months. In particular, the Central Bank indicated that if the recent slowdown in GDP growth in the context of a weaker external impulse consolidates, the...
Investment Opportunities in Venezuela in Oil and Gas
VENEZUELA · Report · 05 Sep 2013
The Key Energy Opportunities in Venezuela versus other Emerging Market Countries The Venezuelan government has realized the need to increase oil and gas output as oil markets have moved to a not-so-rosy outlook and prices are stable, with a downside risk. Geopolitical risks only provide brief res...
Latest Inflation Slips to 2.1%
PHILIPPINES · In Brief · 05 Sep 2013
Lower food, housing and utility price rises contributed to the decline in inflation to 2.1 % in August, below consensus forecast of 2.4%. Muted price pressures can also be seen in a benign core inflation of 1.9%. With year to date inflation averaging 2.8%, below the low end of the central bank’s...
Dominican Rep: Backtracking in Monetary Policy after DOP Depreciation Accelerated
DOMINICAN REPUBLIC · In Brief · 04 Sep 2013
Last week, the Central Bank announced several measures aimed at containing the depreciation of the DOP. In August DOP depreciated 1.8% against the USD, the highest monthly rate registered so far in 2013.The measures included:1. The increase of the monetary policy rate in 200 bp (from 4.25% to 6.2...
Policy Environment Shifting For The Better
INDIA · Report · 04 Sep 2013
In recent months, a series of special reports have sketched the failures of economic policy formulation including at the Ministry of Finance and RBI. These failures have been particularly disappointing given that when P. Chidambaram returned to MoF, a sharp increase in competence was expected. Wi...
President's Popularity Crumbles
COLOMBIA · In Brief · 04 Sep 2013 · 2 responses
Gallup released its most recent opinion poll and President Santos' popularity fell from 46% to 21%. Even though the poll was carried out last week when protests and strikes had reached a climax and before the President took bold moves to quell unjustified violence, his political future is riding ...