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Events
Databanks
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Argentina databank Jul 25
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Brazil Economics databank Jul 15
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Central America databank Jul 31
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Chile databank Jul 17
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China databank Mar 21
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Colombia databank Aug 1
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Ecuador databank Jul 22
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Gulf Countries databank Aug 8
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Hungary databank Jul 21
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India databank Jun 26
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Mexico databank Jul 1
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Panama databank Jul 17
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Peru databank Aug 14
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Philippines databank Aug 6
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Poland databank Jul 16
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Russia Economics databank Aug 14
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South Africa databank Jul 11
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Turkey databank Aug 11
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Ukraine databank May 12
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Venezuela databank Jul 7
COUNTRY INSIGHTS
Inflation continues rising
ARGENTINA · In Brief · 11 Aug 2022
Although roughly speaking in line with market expectations, bearing in mind the sharp depreciation of the informal FX rate following Martín Guzman´s resignation, July’s 7.4% m/m CPI inflation remains nevertheless a worrisome measurement of the “fever” that the economy suffers due to its significa...
Avoiding economic crisis amid political litmus tests
DOMINICAN REPUBLIC · Report · 11 Aug 2022
Amid an increasingly restrictive monetary policy and increases in widespread subsidies, economic growth (5.6%) and inflation (9.5%) in H1 2022 maintained momentum compared to H1 2021. This was also true when compared with January-May 2022. Economic growth has been mainly associated with the stron...
Central Asia military drills take place without Russia
RUSSIA / FSU POLITICS · In Brief · 11 Aug 2022
On August 10 Mongolia, Pakistan, the US, Kyrgyzstan, Tajikistan, Kazakhstan and Uzbekistan began their military exercises in Tajikistan. The US is sponsoring it. The exercise is called Regional Cooperation 22. Washington DC has hailed this as an excellent example of its cooperation with the regio...
Russia: a brief market watch
RUSSIA ECONOMICS · In Brief · 11 Aug 2022
The Russian monetary authorities continue to discourage local clients from keeping funds in unfriendly currencies in the domestic financial system. Last week the Russian President signed a decree that allows sanctioned banks to freeze accounts of legal entities nominated in the currency of those ...
Some EU countries want to ban Russian visitors
RUSSIA / FSU POLITICS · In Brief · 11 Aug 2022
On August 10 Estonia called for all Russians to be prohibited from visiting the EU. Finland is mulling reducing the number of visas for Russians. The question is whether banning Russians from the EU would send a strong anti-war message to Russia, or would it hurt anti-war Russians as well as heig...
There will be several demonstrations for democracy today, Bolsonaro, Lula and Ciro submitted their government plans to the TSE, and the STF ministers unanimously approved their salary raise
BRAZIL POLITICS · Report · 11 Aug 2022
The demonstrations will take place in at least 20 Brazilian cities in the law schools of several public and private universities. There will also be a demonstration in Brasilia. President Jair Bolsonaro's program provides for the maintenance of the Auxílio Brasil program with payments of R$ 600 f...
Vice governor Virág expects inflation close to 20% by year end
HUNGARY · In Brief · 11 Aug 2022
MNB vice governor Barnabás Virág spoke on the radio yesterday. He was asked about inflation prospects. Although he gave a view that was quite a lot different from the Bank's Q2 inflation forecast of late June, he pretty much just confirmed the obvious, by saying that the headline CPI-inflation ra...
Global and domestic shocks to slow the South African economy following the impressive Q1-2022 GDP print
SOUTH AFRICA · Forecast · 10 Aug 2022
• South African growth: Following its notable recovery in 2021, the South African economy once again surprised on the upside during the first quarter of 2022. However, due to numerous negative shocks acting as headwinds, evidence is pointing to a contraction in the second quarter of 2022. • So...
The STF will decide whether it will grant a salary raise to employees of the Judiciary, Lula participated in an event at the Fiesp yesterday, and the IBGE showed that the national inflation rate decreased by 0.68%
BRAZIL POLITICS · Report · 10 Aug 2022
If the salary raise proposal in the STF is submitted and approved by Congress, the STF has stated that the raise must be paid with funds that have been relocated from the Judiciary's budget. The issue is the resulting domino effect, since the STF's salary is the ceiling for the civil service. For...
Prompt reaction: MOL has settled the transit fee on Russian oil shipments to Hungary
HUNGARY · In Brief · 10 Aug 2022
After yesterday's shock announcement that oil shipments by Russia to Hungary (Czechia and Slovakia) through Ukraine were halted five days earlier because of a 'technical problem' around the financial settlement of the transit fee due from Russia to Ukraine, the outlines of a quick and simple solu...
Russia’s external balances widen in July
RUSSIA ECONOMICS · In Brief · 10 Aug 2022
The Central Bank released its flash estimate of the current account surplus along with the combined balance of goods and services in 7M22. The former reached $166.6 bn while the latter widened to $192.4 bn, i.e., to levels which one couldn’t imagine several months ago. Moreover, it appears that i...
Ukraine appears to strike bases in Russia
RUSSIA / FSU POLITICS · In Brief · 10 Aug 2022
On August 8 the Ukrainian military attacked a Russian naval air base. Russian sources acknowledged one person was killed and several were wounded. But the Russian government then said that there were no casualties. According to some sources there were 13 explosions. Russia admitted that there was...
No Russian crude oil is currently flowing into Hungary, Czechia and Slovakia
HUNGARY · In Brief · 09 Aug 2022
We apologise for raising the flag the second time today on something that happened Hungary. Normally, events should be on holiday at this time of the year, but somehow this is not the time for a calm and balanced summer recess. So the thing is that, as reported today, the usually continuous impor...
Bolsonaro participated in an event at the Febraban yesterday, Lula will participate in a debate at the Fiesp today, and the TSE denied the Ministry of Defense access to documents from the 2014 and 2018 elections
BRAZIL POLITICS · Report · 09 Aug 2022
The Febraban said that it does not like high interest rates, would like predictability and that it is willing to establish dialog, while President Jair Bolsonaro said he wants transparency in the voting process and criticized the PT. Today, former President Lula will participate in a debate at th...
Avoiding the Bermuda Triangle
COLOMBIA · Report · 09 Aug 2022
The three legs of the governability triangle that the new government seems to be working on most intensely are: 1) politics 2) the economy, and 3) the so-called “Total Peace,” plus security force reform. On the political front, there is clear progress, with President Gustavo Petro stating that he...