Peru
Peru’s economy shrunk by 0.5% YoY in Q2 2023, marking the second straight quarter of contraction, mainly driven by a 3.9% decline in domestic demand.
August 29, 2023
Peru’s economy shrunk by 0.5% YoY in Q2 2023, marking the second straight quarter of contraction, mainly driven by a 3.9% decline in domestic demand.
Paraguay is considering Chinese investment to develop its green hydrogen industry. As it aims to become a regional supplier of synthetic fuels and fertilizers. The
The Dominican Republic has closed all its borders with Haiti due to a disagreement over canal construction on Haiti’s territory involving a shared river. Haiti
Zambia and China have agreed to encourage the use of their local currencies in trade and investment following a meeting between Presidents Jinping and Hichilema.
Somalia’s annual inflation rate dropped to 5.82% in August, the lowest since March, mainly driven by a decline in food and non-alcoholic beverage prices. On
Nigeria’s inflation accelerated to 25.8% YoY in August from 24.08% in July, the highest level since September 2005, driven by multiple factors, such as the
Mauritius’ central bank held its key interest rate at 4.5%, the highest since October 2015. Policymakers cited declining inflationary pressures, with annual inflation falling to
Ghana is undergoing negotiations to restructure its USD 50 bln debt under a USD 3 bln IMF program. However, Fitch suggests that an agreement with
Moody’s downgraded Ethiopia’s foreign currency (FC) long-term issuer rating to Caa3 from Caa2 but raised the outlook to stable from negative. This downgrade is primarily
Angola’s interest payments to Chinese external creditors, mainly CDB and ICBC, doubled from USD 775 mln in Q1 2023 to USD 1.57 bln in Q2
Mongolia’s central bank held its key interest rate at 13.0%. The bank assessed that the current and future state of the economy and financial markets,
Belarus’ ambassador to Russia argued that sanctions on Belarusian potash fertilizers are jeopardizing global food security and should be lifted urgently. Before the sanctions, which
Ukraine aims to secure USD 42 bln from international partners in 2024, including an anticipated USD 18 bln from the EU and around USD 1.1-1.2
Russia’s central bank increased its key interest rate by 100 bps, in line with expectations, following a substantial emergency hike of 350 bps in August.
The Development Bank of the Philippines (DBP) has disbursed 25 billion pesos as its share of the initial capital for the Maharlika Investment Fund, the
Indonesia’s trade surplus fell to USD 3.12 bln in August, down from USD 5.71 bln in the same month of 2022, driven by a sharper