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Events
Databanks
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Argentina databank Apr 30 -
Brazil Economics databank Apr 14
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Central America databank May 1
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Chile databank Apr 7
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China databank Mar 21
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Colombia databank Apr 28
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Dominican Republic databank Apr 28
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Ecuador databank Apr 22
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Gulf Countries databank May 9
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Hungary databank Apr 22
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India databank Apr 28
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Mexico databank Mar 25
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Panama databank Jan 28
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Peru databank Apr 28
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Philippines databank May 8
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Poland databank Apr 29
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Russia Economics databank Apr 11
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South Africa databank May 6
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Turkey databank Apr 24
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Ukraine databank Mar 6
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Venezuela databank May 5
NEWS FLASH
UPCOMING WEBINAR - PANAMA IN FOCUS: US RELATIONS, CANAL STRATEGY AND FI...
COUNTRY INSIGHTS
Congress approved the Federal Budget for 2023 and recessed until February, Lula announced 16 more members of his ministerial team, and VP Geraldo Alckmin was appointed to the Ministry of Industry and Commerce
BRAZIL POLITICS · Report · 23 Dec 2022
The final text is being consolidated and will be sent for approval. It may only be sanctioned in January by President Lula. since the new government is changing the Ministries Esplanade with the creation of new ministries, the allocation of resources will have to be adjusted. Yesterday Lula annou...
Kazakhstan to send oil to Germany
RUSSIA / FSU POLITICS · In Brief · 22 Dec 2022
On December 22 it was reported that KazMunaiGaz will sell oil to Germany and it will be transported via the Druzhba Pipeline that goes through Russia. Russia will earn transit fees. The project shall commence in January 2023. The EU has banned most Russian oil imports. Germany was very dependent ...
Bearing up
CENTRAL AMERICA · Report · 22 Dec 2022
Costa Rica’s economic performance has been affected by negative external conditions, but results in some areas looking better than expected. Short-term economic activity indicators suggest that real growth this year could be around 4% y/y, vs. the low 3.3% of our July revised forecast. The nature...
No change on the MPC front
TURKEY · Report · 22 Dec 2022
The Monetary Policy Committee met today, and as expected, it kept the policy rate (one-week repo) unchanged at 9%. There was no material change in the economics of the text that is worth reporting here.
Congress enacted the constitutional amendment that removes the Bolsa Família program from the Spending Ceiling, Lula should announce more members of his ministerial team, and today is the final day of legislative activity for the year
BRAZIL POLITICS · Report · 22 Dec 2022
The National Congress enacted the constitutional amendment that allows the payment of the Bolsa Família outside the ceiling next year. It has already been published in today's Official Gazette. The text helps Lira and Pacheco's re-election campaigns in that it resolved the rapporteur amendments i...
Under the Christmas tree: EU Commission approved Hungary's plan to use 2021-2027 cohesion policy funds
HUNGARY · In Brief · 22 Dec 2022
In a major forint-positive step, the EU commission approved the Partnership Agreement with Hungary, that is essentially the country's plan to utilise its €22bn cohesion policy grant quota set for the 2021-2027 medium-term budget period. This followed the signing of Hungary's plan for the utilisat...
Zelensky in the US hears Ukraine will receive Patriot air defense
RUSSIA / FSU POLITICS · In Brief · 22 Dec 2022
On December 21 the Ukrainian President arrived in Washington on his first trip abroad since the war began. The US announced a USD 1.85 billion aid package including air defense missiles. Zelensky is due to address the US Congress. He has met with Biden. The Patriot announcement had been leaked. T...
Russian macro: another year of shocks and uncertainty ahead
RUSSIA ECONOMICS · Forecast · 21 Dec 2022
This year has been uneasy for the Russian economy, just like many other years in the past decade. The forthcoming years will be even more challenging as politics continue to dominate the economy – both in Russia and worldwide. The Russian economy will continue to undergo dramatic changes across t...
Three-cushion billiards
ECUADOR · Report · 21 Dec 2022
The battle between the Executive and the Legislature continues, and we foresee no improvement in the coming months. UNES and the rebels from Pachakutik have not and will not cease in their efforts to get rid of President Lasso — or at least make his life difficult. Social Christians accompany the...
Recent economic indicators are mixed; tightening still expected to continue
ISRAEL · In Brief · 21 Dec 2022
Hi-tech exports slow Hi-tech service exports declined in October by 3.5% compared to the level in Q3 (following growth of 3.6% q/q), and are down 2.4% y/y. Hi-tech services have been a major economic growth driver in 2020-2021 and appear to be decelerating as global hi-tech investments slow as we...
The House approved the basic text of the Transition PEC, the edits to the PEC will now be analyzed, and Lula is expected to announce more members of his ministerial team
BRAZIL POLITICS · Report · 21 Dec 2022
Yesterday, the House approved the basic text of the Transition Constitutional Amendment Proposal (PEC). The voting continues today with the analysis of the edits. The term of the PEC was reduced from two years to one. Today, the Novo party's edit will be analyzed. This edit intends to remove the ...
Standard & Poor's upgrades Dominican Republic's credit rating
DOMINICAN REPUBLIC · In Brief · 21 Dec 2022
The credit rating of the Dominican Republic granted by Standard & Poor's has gone from "BB-" to "BB". This is the first time that the country has obtained this classification. Standard & Poor's justified the decision in the good macroeconomic management of the country, expressed in its high rates...
No surprise at all from the MNB today
HUNGARY · In Brief · 20 Dec 2022
The Monetary Council left all policies unchanged today, in line with a strong analyst consensus expectation. Moreover, the Council made an attempt to say as little as possible, despite the fact that some basic statements had to be made on the Q4 inflation report, which they discussed today, and i...
The STF declared the rapporteur’s amendments unconstitutional, Minister of the STF Gilmar Mendes decided to remove the Bolsa Família program from the Spending Ceiling, and Fernando Haddad is expected to announce more members of his team
BRAZIL POLITICS · Report · 20 Dec 2022
The STF decision has a direct impact on the vote on the Transition Constitutional Amendment Proposal (PEC), which is scheduled for today, December 20. The terms of the PEC are still being negotiated. Even with the decision of Minister Gilmar Mendes to remove the Bolsa Família payment from the spe...
Political system at a crossroads
PERU · Forecast · 20 Dec 2022 · 1 response
In this report, we offer our quarterly forecasts. We first discuss the unstable political situation, and explore the different scenarios that could play out following the ousting of former president Pedro Castillo. Then we discuss our macroeconomic forecasts. Since the risks are high, we introduc...