NEWS FLASH

UPCOMING WEBINAR: CHINA’S OUTLOOK IN THE TIME OF TRADE WARS...

The Minister of Justice launched a plan to combat criminal organizations, today is the deadline for changes to electoral rules for the 2024 elections, and there will be a federal holiday next week on Wednesday, October 11
BRAZIL POLITICS · Report · 06 Oct 2023

This week ends with the federal government's being pressured regarding public security and with friction between the Legislature and Judiciary. Due to the pressure for measures to combat crime, the Ministry of Justice and Public Security launched on Monday, October 2, a plan to combat criminal or...

TOPIC OF THE WEEK: Armenia: Key Macro Risk Materializes - A slide presentation
CAUCASUS / CENTRAL ASIA · Report · 06 Oct 2023

Armenia has been our cyclical favorite in the upcycle and it still enjoys double-digit GDP growth rates, having posted an estimated 10.4% YoY expansion of the economy over Jan to Aug. However, Yerevan’s fortunes have now changed given the outcome of the 3rd Karabakh war. In this week's report, wh...

As y-o-y inflation slows, NBK cuts the base rate to 16%
KAZAKHSTAN · In Brief · 06 Oct 2023

On October 6, the National Bank of Kazakhstan cut its base rate from 16.5% to 16.0%. This move looks quite cautious but justified. On the one hand, from April to September, average monthly inflation remained at 0.6% m-o-m, implying that the annualized 6M moving average inflation fell to 7.4%. The...

Strong protests in Guatemala in support of Bernardo Arevalo
CENTRAL AMERICA · In Brief · 05 Oct 2023

October 5th marks the fourth consecutive day of protests and roadblocks of Guatemala's main roads. Several groups are rejecting the intervention of the Attorney General's office in the presidential transition process. During the latest round of raids, the Prosecutor's Office confiscated the votin...

Sabotage or cooperation?
VENEZUELA · In Brief · 05 Oct 2023

One month before the scheduled date for the opposition primary, Elvis Amoroso, the National Electoral Council (CNE) president, suddenly announced his willingness to follow up on the requests for technical support made by the National Primary Commission (CNP) months ago. Amoroso proposed to provid...

US funding for Ukraine in doubt
RUSSIA / FSU POLITICS · In Brief · 05 Oct 2023

In March 2023 the US Congress initially refused to vote for the budget. Some in the Republican Party want to reduce or even end funding for Ukrainian weapons. The US Congress avoided a government shutdown when it was agreed to postpone the Ukrainian weapons issue for now. Congress needs to elect ...

Russia to build a naval base in Georgia
RUSSIA / FSU POLITICS · In Brief · 05 Oct 2023

On October 5 the President of Abkhazia announced that Russia intends to build a naval base in Abkhazia. Russia recognized Abkhazia as an independent country, but most of the world regards it as part of the Republic of Georgia. Russia's naval base in Crimea is coming under attack from Ukraine. Rus...

Zelensky at European Political Community Forum
RUSSIA / FSU POLITICS · In Brief · 05 Oct 2023

On October 5 he arrived in Spain for the EPC Forum. He wore his trademark military uniform that he has worn every day since the war began. The EPC was founded in 2022. It includes all countries in Europe except Russia and Belarus and also includesTurkey, Azerbaijan and Armenia. It is hoped that o...

The vote on the bill on the taxation of offshore companies and exclusive funds was postponed, the ICMS complementary bill was approved, and the CCJ approved a PEC that limits the powers of the STF
BRAZIL POLITICS · Report · 05 Oct 2023

The vote on the bill dealing with the taxation of offshore companies and exclusive funds was postponed. The postponement is due more to specific complaints about the text than the overall content of the text, which is expected to be approved by the House in October. Yesterday, October 4, the gove...

Is inflation eroding popular support in the Philippines?
PHILIPPINES · Report · 05 Oct 2023

President Ferdinand Marcos Jr suffered a major decline in his approval rating as consumer prices in the Philippines weakened his base support. Some 65% of the 1,200 respondents in the September Pulse Asia Survey approved of his performance, but this was down 15 percentage points (ppts) from 80% i...

Bi-Weekly Economic News Summary
KAZAKHSTAN · In Brief · 04 Oct 2023

Sep 21 KTZ: The National railway company in January-August increased grain loading and transportation by 45% y-o-y to over 7.7 million tons. Sep 22 Government: Kazakhstan plans to develop 75 companies to develop cotton growing and the textile industry, which will deliver over 40K new jobs and abo...

The House approved the Guarantee Framework, the Desenrola law was sanctioned by Lula, and the government is hoping to approve the bill on the taxation of offshore companies and exclusive funds
BRAZIL POLITICS · Report · 04 Oct 2023

Yesterday, the House approved the guarantee framework. The bill is one of the priorities of the Ministry of Finance and aims to facilitate the granting of credit in the country in order to increase family consumption. Also yesterday, the law that deals with the Desenrola program, a debt renegotia...

Ukraine, Lithuania and Poland agree on grain exports
RUSSIA / FSU POLITICS · In Brief · 04 Oct 2023

On October 3 the two countries concurred that Ukrainian cereal products can be shipped via Poland to other countries. Much Ukrainian grain is sold to the Middle East and Africa. It no longer needs to be inspected at the Polish border but will be inspected at a Lithuanian port before being shipped...

SAUDI ARABIA: Deficits projected to return due to higher spending plans
GULF COUNTRIES · Forecast · 03 Oct 2023

* The Saudi ministry of finance published its usual pre-budget statement and mid-year performance review. * The government now projects deficits in 2023-26 whereas previously it was targeting surpluses. * Projected expenditure has been revised up by 13% on average in 2023-25. * Revenue is only...

Armenia to join the ICC
RUSSIA / FSU POLITICS · In Brief · 03 Oct 2023

On October 2 Parliament voted 60-22 to ratify the Rome Statute of the International Court. This means that Armenia will probably join the ICC. It remains for the President of Armenia to sign this into law. The President usually does so. If he does, then the law will take effect 60 days later. The...