Day: April 5, 2023

Georgia

Paraguay central bank held its benchmark interest rate at 8.5% for the seventh consecutive month and emphasized its continuous observation of both local and international

Costa Rica

Costa Rica central bank lowered its benchmark interest rate by 100 bps to 7.5%, following a 50 bps cut in March, the first in four

Colombia

Colombia’s trade deficit shrank to USD 0.9 bln in February from the corresponding month of the prior year’s USD 1.6 bln, its lowest in eight

Zimbabwe

Zimbabwe intends to keep its local currency as legal tender despite the USD being the currency of choice for most transactions. The currency has lost

Sudan

The war in Sudan continues unabated, causing difficulties for other countries to access the airport in Khartoum. The ongoing conflict prompted the US and UK

Nigeria

Citigroup raised its recommendation on Nigerian bonds to marketweight from underweight ahead of the inauguration of Bola Tinubu’s presidency next month. Citigroup strategists predict gradual

Morocco

Morocco annual inflation rate dropped to 8.2% in March from a record high of 10.1% in the previous month due to lower transportation and food

Malawi

The African Export-Import Bank based in Egypt is investing USD 900 mln in Malawi Export Development Fund to build two of the country’s four industrial

Ghana

Fitch downgraded Ghana long-term local currency credit rating to RD from CCC due to missed payments on local-currency bonds. Although Ghana had announced the resumption

Egypt

Egypt finance ministry raised the funding for its social protection programs by 48% to 529.7 bln Egyptian pounds (USD 17.1 bln) for the FY24 from

Serbia

Serbs in northern Kosovo boycotted local elections on Sunday, protesting that their demands for more autonomy have not been met, highlighting the failure of the

Kazakhstan

Kazakhstan has increased its oil exports bypassing Russia in Q1-2023, as it seeks to reduce its dependency on its neighbor. Although exports through the Caspian

Russia

Russia foreign ministry stated that it would expel more than twenty German diplomats, roughly one-third of those in the country, in retaliation for Germany’s decision

Philippine

The Philippine central bank is monitoring the peso closely for potential inflation spillover effects after it fell to more than four-month lows, breaching the 56

Myanmar

The Central Bank of Myanmar (CBM) has issued a mandate that requires licensed banks to convert 65% of all export earnings made in foreign currencies

India

Deliveries of Russian military supplies to India have stopped due to difficulty finding a payment mechanism that does not violate US sanctions, according to Indian