Day: January 29, 2024

Costa Rica

A new legislative bill in Costa Rica, introduced by opposition lawmaker Eli Feinzaig of the Partido Liberal Progresista (PLP), proposes to end the state company

Brazil

Brazil’s annual inflation rate declined to 4.47% in early January, marking a significant slowdown and guiding the central bank’s strategy to continue relaxing tight monetary

Zambia

Zambian President Hichilema expressed concern about his country’s role as a “guinea pig” for the G20’s Common Framework for debt restructuring. Zambia, Ghana, and Ethiopia

Nigeria

Nigeria’s central bank is planning to replace external members of its monetary policy committee. Four out of five external members stated that they have not

Kenya

Kenyan President William Ruto faced legal setbacks in two cases. The Court of Appeal suspended a mandatory 1.5% housing tax introduced in July pending an

Ivory Coast

Ivory Coast has suspended forward cocoa sales for the 2024-2025 season due to concerns over declining production. Ivory Coast and Ghana, which both produce two-thirds

Egypt

Citi has downgraded its recommendation for Egypt’s USD bonds from overweight to market weight. The strategists note that while the risk of restructuring in 2024

Africa

US Secretary of State Blinken concluded his four-nation Africa tour with a visit to Angola, highlighting significant US investments in the country. These investments include

Middle East

The US reported that a drone attack near the Syrian border by Iranian-backed militants resulted in the deaths of three American service members and injuries

Israel

The International Court of Justice (ICJ) ordered Israel to prevent harm to Palestinians and provide humanitarian assistance but stopped short of demanding an immediate cease-fire

North Macedonia

North Macedonian PM Kovacevski resigned last week, leading to the resignation of the entire government. This step is intended to pave the way for the

Moldova

Hungarian PM Orban pledged “unconditional” support for Moldova’s EU membership during a meeting with Moldovan PM Recean in Budapest. Orban remarked on the eight-year delay

Kosovo

Germany has joined the call for Kosovo to postpone its plan to adopt the EUR as its sole legal currency, citing concerns that this could

Ukraine

Hungary has agreed to drop its objection to the creation of a EUR 5 bln Ukraine military assistance fund, facilitating an agreement to create a

Russia

Finland is preparing for a presidential election, with NATO’s newest member selecting a leader who will play a crucial role in shaping defense policies against

Vietnam

Vietnam’s trade surplus declined to USD 0.38 bln in January 2024 (as of Jan-15) from USD 0.73 bln in the same period in 2022, as

Thailand

JPMorgan analysts noted that they maintain an overweight position on Thai stocks, attributing this to expectations of fiscal easing and continued tourism recovery. The country’s

China

China’s central bank plans to concentrate on directing funds into critical sectors to stimulate the economy. That follows an unusual reserve requirement ratio announcement. The

The Philippines

Philippine central bank Governor Remolona indicated that a rate cut might be possible within the year, though not likely in the first half. Despite easing