NEWS FLASH

UPCOMING WEBINAR - PANAMA IN FOCUS: US RELATIONS, CANAL STRATEGY AND FI...

Justice Moraes asked to review the case that deals with the calculation of taxes, Lula gave an interview to CNN, and next week will be the Carnival holiday
BRAZIL POLITICS · Report · 17 Feb 2023

Supreme Federal Court (STF) Justice Alexandre de Moraes asked to review the case that deals with the exclusion of the presumed Tax on Industrialized Products (IPI) credit resulting from exports for the calculation of the PIS and Cofins taxes. President Lula had an exclusive interview with CNN. He...

Kazakhstan macro: expect robust economic growth in 2023 and still-high inflation
KAZAKHSTAN · Report · 17 Feb 2023

Kazakhstan’s Bureau of National Statistics reported that the country’s GDP grew by 3.2% in 2022 and, in nominal terms, reached KZT101.5 trln ($220.5 bn). The country’s GDP per capita rose to $11.2K as population reached nearly 19.78 mln people, and despite some weakening of the tenge last year, G...

Rate hike of 0.5% expected on Monday
ISRAEL · In Brief · 17 Feb 2023

Rate hike of 0.5% expected on Monday Recent economic and political developments in Israel will support a more aggressive monetary tightening than initially expected. We expect a hike of 0.5% to 4.25% tomorrow, due to the following factors: The inflationary environment remains “sticky”. Core infla...

Russian women giving birth in Argentina
RUSSIA / FSU POLITICS · In Brief · 17 Feb 2023

Since 2022 thousands of Russian women have flown to Argentina because giving birth there confers Argentine citizenship on their babies. Russians can travel to Argentina without a visa. Argentines can travel visa free to 175 countries. Some of the women came to Argentina on one-way tickets. Some R...

Russia: a brief market watch
RUSSIA ECONOMICS · In Brief · 16 Feb 2023

The Russian financial markets remain in the area of turbulence. On the eve of the first anniversary of the start of a special military operation in Ukraine, media are reporting about the forthcoming new sanctions package, which will be introduced by the EU and potentially US next week. Besides, i...

Finance Minister Haddad said that the new fiscal framework will be submitted to Congress in March, the House created a working group to analyze Tax Reform, and the CMN will meet today
BRAZIL POLITICS · Report · 16 Feb 2023

The Minister of Finance, Fernando Haddad, said yesterday that the new fiscal framework will be submitted to the National Congress in March. The previous forecast was April. Yesterday, the House created a working group to analyze Tax Reform. The term is 90 days. Work should be completed around May...

Slide presentation - Ecuador's February elections: A critical political thermometer
ECUADOR · Report · 16 Feb 2023

Get insight into Ecuador's elections and what economic data reveals about Ecuador's trajectory with the presentation from our webinar, "Ecuador's February elections: A critical political thermometer".

Wagner leader says Bakhmut will not fall until March
RUSSIA / FSU POLITICS · In Brief · 16 Feb 2023

On February 16 the head of the private military company said that the city will not be taken until March or even April 2023. Yevgeny Prigozhin posted these comments online and blamed the Russian Army for this saying it is too bureaucratic. He added that it is necessary to cut supply routes to the...

Policy rates up by another 50bp
PHILIPPINES · In Brief · 16 Feb 2023

Following surprisingly strong January inflation, the Monetary Board today decided to raise its set of policy rates by 50bp, bringing the key overnight rate to 6% effective tomorrow, the highest since 2008. The BSP also raised its inflation forecast for the year sharply from 4.3% to 6.1% while kee...

January’s CPI surprises on the upside
ISRAEL · In Brief · 15 Feb 2023

January’s CPI surprises on the upside Inflation in January was up 0.3% and 5.4% y/y (accelerating from 5.3% last month). Market expectations (and ours) were for 0.1% m/m. Housing rental prices surprised on the upside, with OER accelerating to 6.7% from 6.3%. In addition, the seasonal decline in a...

Russia intensified attack on Vuhledar
RUSSIA / FSU POLITICS · In Brief · 15 Feb 2023

On February 14 Ukraine showed footage of several damaged Russian military vehicles in Vuhledar, Ukraine. Beside the vehicles were what appeared to be the corpses of Russian troops. Vuhledar is 150 km from Bakhmut - a city that Russia is determined to take. Russia admits that Ukrainian resistance ...

Monthly headline inflation falls, while core inflation rises
DOMINICAN REPUBLIC · Report · 15 Feb 2023

Inflation in December 2022 led the Central Bank to leave its policy rate unchanged at 8.5% on January 30th, 2023, arguing that the inflationary dynamics had responded to both the monetary restriction program and the subsidies implemented by the government. Although it emphasized sticking to the r...

The CMN will not change the inflation target tomorrow, the government continues to work toward approving the CARF MP, and Pacheco outlined the goals of the Senate at the CEO Forum
BRAZIL POLITICS · Report · 15 Feb 2023

Minister of Finance Fernando Haddad confirmed yesterday that a change in the inflation target will not be on the agenda of the meeting of the National Monetary Council (CMN) tomorrow. The government continues to work intensely for the approval of the provisional measure (MP) that re-establishes t...

Robust GDP growth in 2022
KAZAKHSTAN · In Brief · 15 Feb 2023

Kazakhstan’s Bureau of National Statistics reported that the country’s GDP grew by 3.2% in 2022 and, in nominal terms, reached KZT101.5 trln ($220.5 bn). Production of goods increased by 3.2% as the manufacturing segment of the industry grew by 3.2%, while mining contracted by 1.0%. The services ...

Head of Wagner said he is behind a troll factory
RUSSIA / FSU POLITICS · In Brief · 14 Feb 2023

On February 14 Yevgeny Prigozhin said that he is behind the Internet Research Agency (IRA) in an interview with a German magazine. He said that the IRA was defensive because of anti-Russian propaganda. He had often denied that he is behind the Internet Research Agency (IRA). The IRA is based in S...