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Events
Databanks
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Argentina databank Nov 7 -
Brazil Economics databank Nov 15
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Central America databank Nov 27
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Chile databank Oct 23
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China databank Mar 21
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Colombia databank Nov 6
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Dominican Republic databank Nov 20
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Ecuador databank Nov 29
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Gulf Countries databank Nov 29
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Hungary databank Nov 21
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India databank Nov 26
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Mexico databank Nov 15
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Panama databank Sep 11
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Peru databank Oct 15
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Philippines databank Nov 8
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Russia Economics databank Nov 13
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South Africa databank Nov 1
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Turkey databank Sep 18
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Ukraine databank Nov 12
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Venezuela databank Nov 5
NEWS FLASH
UPCOMING WEBINAR - LATIN AMERICA IN 2025: HOW WORRIED SHOULD WE BE?...
COUNTRY INSIGHTS
Moldova's former pro Russian president arrested
RUSSIA / FSU POLITICS · In Brief · 26 May 2022
Igor Dodon is in detention pursuant to a treason and anti-corruption investigation. Moldova said the arrest is unrelated to the Ukraine War. The current Moldovan Government has vowed to battle peculation and oligarchs. The government is seeking the extradition of several Moldovan millionaires abr...
A really big fiscal adjustment, Robin-Hood-type of extraordinary taxes, populist-sounding communication and a much weaker forint
HUNGARY · In Brief · 26 May 2022
It took only a few minutes after the release of our monthly report yesterday that PM Orbán announced a series of new extraordinary taxes, imposed on sectors that, according to the judgement of the government of Hungary, make ’extra profits’. These are: banking, insurance, large-scale wholesale/re...
CBR cut the key rate by 300 bps, and Minfin is likely to resume borrowing
RUSSIA ECONOMICS · In Brief · 26 May 2022
Today, at the extraordinary BoD meeting, CBR decided to cut the key rate by 300 bps to 11%. As we wrote yesterday, this move was anticipated amid rapidly decelerating inflation and slowing consumer lending. Moreover, a further cut in June is also likely. This step will inevitably push down intere...
The analysis of Caio Paes de Andrades’s appointment at Petrobras will take longer than expected, the House approved the bill that establishes an ICMS tax limit on key items, and Senator Simone Tebet said she is against the privatization of Petrobras
BRAZIL POLITICS · Report · 26 May 2022
Petrobras’s Board of Directors determined that Caio Paes de Andrade's appointment will be submitted to the internal governance process, that is, it will have to be analyzed by the Petrobras People's Committee. The councilors also asked the government to send the other candidates to occupy seats o...
CBRT stays put, fibs more, prays to Gods for a miracle
TURKEY · In Brief · 26 May 2022 · 1 response
Just gonna stand there And watch me burn But that's alright Because I like The way it hurts Just gonna stand there And hear me cry But that's alright Because I love The way you lie I love the way you lie (The author prefers Rihanna cover) CBRT kept its policy rate at 14%, and didn’t announce any ...
Kazakhstan and Russia slide presentation: The divergence - Kazakhstan's growth and Russia's transition
KAZAKHSTAN · Report · 26 May 2022
Access the pdf file of the presentation from the GlobalSource Partners' webinar "The divergence - Kazakhstan's growth and Russia's transition", which details how Kazakhstan will continue to evolve toward greater openness and cooperation with various countries as the Russian authorities have nothi...
Marcos's economic team (2)
PHILIPPINES · In Brief · 25 May 2022
In our update on President-elect Marcos's cabinet choices yesterday, we wondered who will replace soon to be Finance Secretary Benjamin Diokno as BSP Governor. The answer is, Dr. Felipe Medalla, a member of the Monetary Board, who will serve until June next year. Like Messrs Diokno and Balisacan,...
Ukraine demands Russia withdrawals before talks
RUSSIA / FSU POLITICS · In Brief · 25 May 2022
On May 24 Zelensky said that the war situation is very challenging. However, he said he will only negotiate with Moscow if Russia pulls out of Ukraine. The Russian Parliament passed a law that said there is no upper age limit for those signing up to the military. The aim is for older recruits to ...
CBR to cut the key aggressively as the ruble looks too strong and inflation slows
RUSSIA ECONOMICS · In Brief · 25 May 2022
Rosstat reported deflation of 0.02% in seven days ending on May 20 so that the MTD inflation reached 0.13% only and turned well below all expectations. The YTD inflation reached 11.82% on the same date. The CBT reported that interest rates on short-term consumer loans (up to 1Y maturity) jumped t...
Oil embargo against Russia: a crucially important battle within the EU
HUNGARY · Report · 25 May 2022
Nearly two months after the election and three months into the war in Ukraine, none of the previously existing risks and uncertainties have been removed, and some problems even seem to have intensified. There is no new development on the now officially ongoing rule-of-law procedure against Hungar...
Yuan may remain in the 6.7-7 zone
CHINA · Report · 25 May 2022
The Shanghai lockdown is dragging down all the major growth indicators. In April, industrial output fell -2.9% y/y, and its growth rate in January-April decreased to 4% y/y, down 7.9 pps, and 2.5 pps from March. Industrial output in Shanghai and Northeastern China, major lockdown areas, was parti...
Petrobras Board reviews the appointment of Caio Paes de Andrades as president, the House negotiates on the bill to establish an ICMS tax limit on key items, and the MDB and Cidadania confirmed support for Simone Tebet’s candidacy
BRAZIL POLITICS · Report · 25 May 2022
At Petrobras, an Extraordinary General Meeting (AGE) may be called to elect a new Board. Yesterday, the Chief of Staff, Ciro Nogueira, said that the new president of Petrobras needs to be able to change the company's board. In other words, more changes are expected. Deputies are discussing includ...
Kazakhstan’s consolidated budget in surplus in 4M22 as high oil price boosts revenues of the National Fund
KAZAKHSTAN · In Brief · 25 May 2022
The Finance Ministry reported that in 4M22 total revenues of the consolidated budget) accounted for 45.5% of the amended annual plan (KZT15.8 trln) and reached KZT7.2 trln. The consolidated budget comprises the republican budget, local budgets, and the National Fund net of mutual transfers. Expen...
Pandemic statistics update - May 25, 2022
CHINA ADVISORY · Report · 25 May 2022
China film box office revenue is bouncing around at low levels, down 88.3 percent YoY as of the most recent data, as lockdowns continue to impact attendance at cinemas. However, the traffic data from Shanghai and Beijing is mildly positive.
Marcos's economic team
PHILIPPINES · In Brief · 25 May 2022
We have it on good authority that the next finance secretary will be BSP Governor Benjamin Diokno. This is good news for financial markets. So far, President-elect Ferdinand Marcos, Jr.’s inspired choices for his economic team – Governor Diokno for Finance and economist Arsenio Balisacan for NEDA...