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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
Russian diplomat in Africa injured by letter bomb
RUSSIA / FSU POLITICS · In Brief · 17 Dec 2022
On December 16 a letter bomb in Central African Republic (CAR) wounded the head of the Russian cultural center. The letter addressed to him said, ''It was from all the French: the Russians to get out of Africa.'' The diplomat had already received death threats. The head of the Wagner mercenary gr...
GULF WEEKLY: Gulf mirrors Fed hike, UAE and Qatar surpluses in Q3, strong Saudi Q3 growth
GULF COUNTRIES · Report · 16 Dec 2022
A skimmable summary overlaid with our analysis and links. Headlines: * Oil rebounds partially as IEA lifts 2023 demand forecast. * All Gulf states bar Kuwait mirrored the Fed’s 50bp hike. * China faced criticism from long-time ally Iran for appearing to favor Gulf states. * Saudi non-oil GD...
Cortizo announces the intervention of the government in the commercial operations of Minera Panama, stopping production without a timetable to resume sales
PANAMA · In Brief · 16 Dec 2022
The Cabinet approved yesterday Resolution 144 that instructed three Ministers (Labor, Environment, and Commerce) to intervene in the operations and commercialization of copper mining in northern Panama after the failed renegotiation of the existing contract between Minera Panama (a subsidiary of ...
It’s Only the Beginning
VENEZUELA · Report · 16 Dec 2022
After the November 26 signing by Nicolás Maduro government and the delegation of the Unitary Platform their humanitarian agreement, heated rhetoric fills the air. The parties seem not to have the will or sense of urgency needed to move forward in the process. Although talks continue in Caracas...
Kazakhstan macro: The reality may look somewhat better than statistics show
KAZAKHSTAN · Report · 16 Dec 2022
Despite several shocks, as well as elevated and uneven inflation, the Kazakh economy has performed relatively well, having weathered mini-storms associated with scheduled maintenance work on the country’s two main oilfields and problems with the CPC. At a glance, it looks as though in November, t...
Road to disputed Azerbaijan region blocked
RUSSIA / FSU POLITICS · In Brief · 16 Dec 2022
On December 15 Russia voiced its disquiet because of heightened tension between Azerbaijan and Armenia. A road connecting Armenia to Nagorno Karabakh has been blocked since December 11. Nagorno Karabakh is home to 120,000 ethnic Armenians and virtually no Azerbaijanis but it is legally part of Az...
Ukraine defends the east as Russia warns West against arms shipments
RUSSIA / FSU POLITICS · In Brief · 16 Dec 2022
On December 16 Ukraine was successfully defending itself in the Donbas. Russia is trying to take Bakhmut. On December 15 Ukraine said there were 23 air strikes and 4 missile strikes against Kharkiv but minimal damage was done. On December 15 Kherson was deprived of all electricity due to Russian...
Policy rates up by 50bp
PHILIPPINES · In Brief · 16 Dec 2022
As widely expected, the Monetary Board of the BSP raised its set of policy rates by 50bp effective tomorrow. This brings the key overnight rate to 5.5%, the highest since end-2008. During the Q&A, BSP Governor Felipe Medalla said that there is no basis for ruling out further rate increases next y...
Webinar replay: Monetary policy balancing act: Brazil, Chile, Hungary, and Turkey
BRAZIL ECONOMICS · Report · 16 Dec 2022
Four countries — Brazil, Chile, Hungary, and Turkey — exhibit the full range of dilemmas faced by central banks in emerging markets. Visit our calendar page to watch the replay of our analysts as they discuss how these countries will navigate their monetary policy challenges going into 2023 in ...
Two more ministers of the STF still need to vote on the rapporteur’s amendments case, the Senate should vote on the bill that provides for new rules for the rapporteur’s amendments, and the House should vote on the Transition PEC on Tuesday
BRAZIL POLITICS · Report · 16 Dec 2022
So far, nine ministers have voted on the rapporteur’s amendments case. The score is 5-4 against the rapporteur's amendments. Ministers Ricardo Lewandowski and Gilmar Mendes still need to vote. Minister Rosa Weber, president of the STF, postponed the conclusion of the trial to next Monday, followi...
I don’t think anyone expected COVID to spread this rapidly
CHINA FINANCIAL · Report · 16 Dec 2022 · 1 response
Special points to highlight in this issue: * COVID is spreading so rapidly in Beijing and throughout China that I think everyone was caught by surprise. There is a rising consensus that government officials mishandled the opening up, and there are several explanations for what happened, and wh...
Service price inflation continues
ISRAEL · Report · 16 Dec 2022
November’s CPI came in at 0.1% m/m and 5.3% y/y, in line with market expectations. Core inflation accelerated to 5.3% y/y from 5.0% last month as housing rental prices (OER) increased by 0.6% m/m and accelerated to 5.9% from 5.6%.
Russia: a brief market watch
RUSSIA ECONOMICS · In Brief · 16 Dec 2022
The price cap on Russian oil, which the Western countries imposed recently (currently set at $60), caused only minor disruption for the market (if any) as Urals trades currently below this level. Markets capped the Urals price already long ago as the discount between Brent and Urals widened soon ...
The revised statistics suggested seasonally adjusted 3Q22 GDP grew Q-o-Q
RUSSIA ECONOMICS · In Brief · 15 Dec 2022
According to Rosstat’s revised numbers, the Russian GDP contracted in 3Q22 not by 4.0% as an earlier flash estimate showed, but by 3.7%. Rosstat also showed that the seasonally adjusted 3Q22 GDP was up versus the previous quarter (around 0.4%). It means that technically, Russia was not yet in rec...
Channeling Yogi Berra
COLOMBIA · Report · 15 Dec 2022 · 1 response
In the wake of the 2014-2016 oil price collapse, the COP/dollar depreciated 50% in nominal and 20% in real terms. Yet exports were far from experiencing a boost. The textbook effect from the devaluation on exports seemed to have stop working. But after the worst effects of the pandemic started to...