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UPCOMING WEBINAR - LATIN AMERICA IN 2025: HOW WORRIED SHOULD WE BE?...

International Olympic Committee is restricting Russia
RUSSIA / FSU POLITICS · In Brief · 01 Feb 2023

On February the International Olympic Committee (IOC) rejected Russia's suggestions that Russian and Belarusian athletes should be allowed to compete under their own flags. This relates to the Paris 2024 Olympics. Russia said politics should not interfere with sport. In December 2022 the ICO unan...

Preamble – Summary of the Joint Policies Protocol by the Nation Alliance—Part I
TURKEY · In Brief · 01 Feb 2023

Sorry, I'll forget my head next. I've also translated salient parts of the summary section of the Joint Policies  Protocol at this link

NA government protocol: This is as good as it gets
TURKEY · In Brief · 01 Feb 2023

Turkey’s six-party opposition alliance, recently renamed as the Nation Alliance, issued its election manifesto and coalition protocol with great fanfare on 30 January, thus making asymptotic progress to the finish line, which would be crossed if it manages to unite around a single presidential ca...

OFZ: Minfin may soon resume the placement of floaters
RUSSIA ECONOMICS · Report · 31 Jan 2023

By the end of January, the Russian Ministry of Finance managed to raise about R200 bln on the OFZ market, which looks like a very modest result compared to 2022 (when the total amount of issuance reached R3.3 trln). So far, the government is sticking with cautious tactics, placing mostly fixed-ra...

Uzbekistan and Kyrgyzstan sign agreement
RUSSIA / FSU POLITICS · In Brief · 31 Jan 2023

On January 27 the presidents of the two countries met and signed an agreement about their border. The President of Uzbekistan was in Kyrgyzstan for a state visit. Mirziyoyev said 30 years of disputes had been resolved. The two presidents both came to office within the last 7 years. They get on bo...

Political and economic prospects mixed.
CENTRAL AMERICA · Report · 31 Jan 2023

Costa Rica’s exchange rate in 2022 experienced one of the most volatile periods of its history. After a currency depreciation of 9% during H1, the colon appreciated 14.3% from July to the end of 2022. Daily volatility rose significantly, recording a standard deviation of ₡20 compared to ₡10 a yea...

The market is monitoring changes in the BNDES, Lula spoke about the Mercosur-EU trade agreement yesterday, and Senator Marinho is gaining support in the election for Senate president
BRAZIL POLITICS · Report · 31 Jan 2023

Yesterday, the Minister of Finance, Fernando Haddad, said that the Brazilian Development Bank (BNDES) will discuss internally the credit policy for re-industrialization. The market is keeping a close eye on the BNDES to see whether there will be changes in the Long Term Rate (TLP). Yesterday, aft...

Politics: A coming deluge of court cases over electoral laws
MEXICO · Report · 30 Jan 2023

A major showdown is shaping up over President López Obrador’s pending reforms to the country’s electoral laws. With the Senate expected in early February to put the finishing touches on what AMLO labeled his "Plan B", the stage is set for an avalanche of appeals and constitutional challenges to t...

What is the Best Fiscal Risk Premium Measure: Exchange Rate, Stock Market Index or Yield Curve?
BRAZIL ECONOMICS · Report · 30 Jan 2023

The absence of a fiscal framework results in a risk premium that is manifested in the prices of assets, such as the exchange rate, stock prices and the position and slope of the yield curve. Although in evaluating the reactions to the information related to fiscal policy, we look at these three p...

Inflation is a challenge for the Lula government and other weekly topics
BRAZIL POLITICS · Report · 30 Jan 2023 · 1 response

The Legislative and Judicial branches resume activities. Elections in the House and Senate are at the center of the political world. Arthur Lira (PP-AL) and Rodrigo Pacheco (PSD-MG), who are running for re-election, are the favorites. In the economy, the first meeting of the Monetary Policy Commi...

A record rise in car exports
INDONESIA · Report · 30 Jan 2023

The Indonesian economy posted an encouraging result for Q3 2022 with GDP growth of 5.72%, significantly higher than 5.44% achieved in the previous quarter. One of the main contributors to this growth was the rise in exports. In 2022, Indonesian exports reached $292 billion, a record level. Ind...

Kazakhstan macro: financial sector to be increasingly important for growth, with an emphasis on inflation and rates
KAZAKHSTAN · Report · 30 Jan 2023

In line with an estimate by the National Bank of Kazakhstan concerning the country’s GDP growth at 3.1%, the country’s Ministry of Economy mentioned a similar figure. The National Bureau of Economic Statistics reported that in 9M22, the country’s GDP increased by 3.0%. Therefore, based on this nu...

Economics: Recent data points to further slowing in activity, with a slight rebound in inflation
MEXICO · Report · 30 Jan 2023

As we conclude the first month of 2023, we have been presented with evidence of cooling activity in key indicators. After consumption had been especially strong in the second and third quarters, consumer spending faltered in the two most recent months for which Inegi data is available, including ...

Russia advances in east Ukraine
RUSSIA / FSU POLITICS · In Brief · 30 Jan 2023

On January 30 a Moscow installed bureaucrat named Denis Pushilin in Donetsk said that Russia has taken land around Vuhledar. But he said that Ukrainian resistance is fierce in Vuhledar. The town is 93 km south of Bakhmut which Russia intent on taking. Russia appears to want to do a pincer movemen...

There will be elections in Congress for the presidencies of the House and Senate this week, Congress and the Judiciary will resume activities on Wednesday, February 1, and the Central Bank will decide on the interest rate
BRAZIL POLITICS · Report · 30 Jan 2023

In the House, Arthur Lira (PP-AL) is running for re-election as president and, so far, there is no other viable candidacy. The race for the presidency in the Senate will be tougher than in the House. Rodrigo Pacheco (PSD-MG), who is seeking re-election, will face Rogério Marinho (PL-RN). Pacheco ...