NEWS FLASH

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

Lira and Pacheco were re-elected, the parties will now focus on the permanent committees of Congress, and the STF resumes adjudication of limiting sentences in tax cases
BRAZIL POLITICS · Report · 02 Feb 2023

Lira received 464 votes and Pacheco, 49. Lira did not have a strong opponent and received the most votes of any candidate in the history of the House. In the Senate, Pacheco won, but the opposition and supporters of President Jair Bolsonaro had 32 votes, which is enough to create a Parliamentary ...

Industrial output marginally contracts in 2022 setting up a basis for moderate growth this year
RUSSIA ECONOMICS · In Brief · 02 Feb 2023

Rosstat reported that industrial output contracted in 2022 by 0.6%. In December alone, it fell by 4.3% y-o-y, while it grew by 0.1% m-o-m in seasonally adjusted terms. Mining was up by 0.8%, and manufacturing contracted in 2022 (1.3%). The performance was uneven across sectors as the Russian econ...

Essential CIS Politics: February 2023
RUSSIA / FSU POLITICS · Report · 01 Feb 2023

* Germany, the US and others donated tanks to Ukraine. * Russia won the Battle of Soledar at great cost. * There is a tense standoff between Armenia and Azerbaijan. * The Turkmen president made a state visit to China. * Russian military drills in Belarus have ...

Uncertainty persists in the stalled contract negotiations regarding the copper mine, and the US State Department might redraw the political map
PANAMA · Report · 01 Feb 2023

The contract negotiations between the government and First Quantum, the owner of Minera Panamá, are still not progressing. The main pending disagreements are royalties and depletion deductions, the scope of the easement, the procedure by the state in the event of the administrative termination of...

A bit of progress, well short of sufficient, reached at rule-of-law talks with the EU
HUNGARY · In Brief · 01 Feb 2023

The good news is that talks on how to restore Hungary's access to new EU development funds apparently continue. Another piece of good news is that Hungary is reported to have made concessions, slowly moving towards meeting the requirements set by the EU in December. The bad news, for those who wo...

Dominican Government issues new securities in local and foreign currency and concludes repurchase of bonds in DOP maturing in 2023.
DOMINICAN REPUBLIC · In Brief · 01 Feb 2023

The Dominican Government reported that it issued USD$1.8 b in local and foreign currency, with the purpose of repurchasing the international bond indexed in DOP maturing in 2023 and partially financing the 2023 Public Budget. The issuance in foreign currency amounts to USD700 m, with a coupon of ...

The House and Senate will elect their respective presidents, the STF resumes activity today, and the Central Bank announces the basic interest rate
BRAZIL POLITICS · Report · 01 Feb 2023

The elections for the House and Senate presidencies will take place today. Arthur Lira (PP-AL) will easily be re-elected in the House. In the Senate, Rodrigo Pacheco (PSD-MG) is the favorite, although his main opponent, Rogério Marinho (PL-RN), has been gaining support. The Senate election is exp...

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...