GlobalSource Partners | Country Insights

The second of three presidential candidates’ debates was held on April 28. Unlike the first event on April 7, in which Xóchitl Gálvez was widely seen as having squandered a crucial opportunity to eat into Claudia Sheinbaum’s lead, this time the opposition coalition nominee appeared better prepare...

Kazakhstan macro: economic growth to moderate amid limited stimulus, murky stats

KAZAKHSTAN · Report · 06 May 2024

According to the Bureau of National Statistics of Kazakhstan, the short-term indicator (a monthly proxy for overall economic activity) grew by 4.7% y-o-y in 1Q24. It grew by 5.1% in 2023. The short-term indicator incorporates the segments of industry, agriculture, construction, trade, transportat...

Inflation continues to trend downward. For this trend to solidify, the process of the removal of exchange controls must be clearly outlined.

ARGENTINA · Report · 06 May 2024

The monthly inflation rate reported by INDEC for April is expected to be around 8.5%, three percentage points higher than the estimates based on online prices. This disparity is attributed to adjustments in prices and utility tariffs previously heavily controlled and distorted by the former gover...

Increasing indications of slowing growth

ISRAEL · Report · 06 May 2024

1. Economic indicators appear mixed, with signs of slowing growth ahead. 2. We continue to expect inflation to accelerate, limiting the possibility of monetary easing. 3. The shekel continues to fluctuate on shifting expectations regarding a possible cease-fire.

Diplomatic stand-off between the Philippines and China

PHILIPPINES · Report · 06 May 2024

The economic implications of the maritime and diplomatic stand-off between the Philippines and China cannot be overemphasized. Since the Philippines is expected to continue documenting and exposing similar attempts of China to expand its territories, and China would invariably deny them, the sign...

Kyrgyzstan and Tajikistan tell their people: do not go to Russia

CIS POLITICS · In Brief · 04 May 2024

On May 2 Kyrgyzstan made the announcement. Tajikistan did so on April 28, 2024. This is in the wake of the Crocus City Hall terrorist attack that killed 144 people. 11 Tajik men face trial for this. Central Asians who go to Russia face intense questioning at border control and having their lugga...

Lower inflation a key to quieting business fears

PHILIPPINES · In Brief · 04 May 2024

By this time, many publicly-listed companies in the Philippines have held or about to hold their annual shareholders’ meeting to report on the previous year’s business performance. So far, the reports were more than encouraging with earnings beating the previous year’s post-pandemic record. Their...

France and the UK taking bigger risks to aid Ukraine

CIS POLITICS · In Brief · 03 May 2024

On May 2 the President of France said that his country might send troops to Ukraine if Russia broke through Ukrainian lines and Kyiv requested such help. Since early 2024 President Macron has mooted the possibility of Western troops in Ukraine. But most NATO countries said they will never deploy ...

GULF WEEKLY: UAE boosts oil capacity, ADQ’s inaugural bond, Saudi non-oil growth slows, Oman awards green hydrogen blocks

GULF COUNTRIES · Report · 03 May 2024

A skimmable summary overlaid with our analysis and links. Headlines: * Oil had its worst week in six months, dipping by about -7% on weak data and worries about rates. * Another Gaza ceasefire/hostage deal is being considered, but Netanyahu says he will assault Rafah anyway. * S&P warns that...

Webinar Replay: Panama and Dominican Republic Elections Outlook

DOMINICAN REPUBLIC · Report · 03 May 2024

How will Panama and the Dominican Republic's 2024 elections play out, both in terms of their presidencies and the composition of their legislating bodies? Visit our calendar page to watch the replay of our webinar on Panama and the Dominican Republic's upcoming elections and how they will shape t...

Inflation back to a monthly pace of circ. 3%

TURKEY · Report · 03 May 2024

Consumer prices increased by 3.2%, m/m, in April, somewhat lower than consensus, with the 12-month rate rising further to 69.8% from 68.5% in March. Domestic-PPI inflation posted 3.6%, which drove the 12-month rate to 55.7% from 51.5% a month earlier, as the PPI-CPI inflation gap, though remains ...

The São Paulo City Council approved the privatization of Sabesp, next week will be busy in Brasilia, and Congress is expected to vote on presidential vetoes next week

BRAZIL POLITICS · Report · 03 May 2024

The São Paulo City Council approved the bill that authorizes it to join the privatization of Sabesp, the state company responsible for water and sewage services in the city. There were 37 votes in favor and 17 against. Next week will be busy in Brasília. The president of the House, Arthur Lira (P...

Moody’s increased the outlook for Brazil's sovereign debt from stable to positive, Lula broke electoral rules by calling for his supporters to vote for Boulos in São Paulo, and the São Paulo City Council votes on the Sabesp privatization

BRAZIL POLITICS · Report · 02 May 2024

Yesterday, the rating agency Moody's raised the outlook for Brazil's medium and long-term sovereign debt from stable to positive. The company, however, maintained its long-term issuer and unsecured government bond ratings at Ba2. Yesterday, trade unions organized an event for Labor Day. Lula expl...

Current account deficit narrowed in 1Q24

KAZAKHSTAN · In Brief · 02 May 2024

According to the National Bank of Kazakhstan, the current account narrowed in 1Q24 to about $0.89 bn, while in 2023 its quarterly deficit varied from $1.6 bn to $3.4 bn. According to recent revisions the current account deficit reached almost $8.66 bn last year.In 1Q24, the trade surplus accounte...

The Central Bank maintains the monetary policy interest rate unchanged in May 2024

DOMINICAN REPUBLIC · In Brief · 01 May 2024

For the sixth consecutive month since Dec 2023, the monetary policy interest rate will remain unchanged. In May 2024, the monetary policy interest rate will remain at 7.0% annually. Also, the permanent liquidity expansion facility rate (1-day Repos) and the interest-bearing deposit rate will rema...