China
China has launched a legal challenge against the US at the World Trade Organization, targeting the Inflation Reduction Act for its provisions that disadvantage EV
April 22, 2024
China has launched a legal challenge against the US at the World Trade Organization, targeting the Inflation Reduction Act for its provisions that disadvantage EV
Bloomberg Intelligence suggests that the Malaysian ringgit is potentially 10.1% undervalued against the USD, with a fair value estimate for USD/MYR being lower than the
Sri Lanka’s central bank unexpectedly cut in its key interest rate by 50 bps to 9.50%, aiming to revitalize the economy as inflation showed signs
Moody’s updated its outlook on Georgia from negative to stable while maintaining the country’s Ba2 rating. This adjustment reflects a reassessment of the economic risks
The IMF concluded its third review under the Stand-By Arrangement (SBA) with Serbia, lauding the country’s robust macroeconomic fundamentals. That includes recovering growth, a solid
Cease-fire negotiations between Israel and Hamas have stalled once more, with PM Netanyahu citing “extreme demands” by Hamas as the reason. Despite weeks of mediated
Ghana is set to initiate dialogue with international bondholders regarding the restructuring of roughly USD 13 bln in defaulted debt. Concurrently, the government anticipates finalizing
In other news, Ghana is facing the risk of losing access to crucial funding facilities due to a shortfall in its cocoa crop. Extreme weather
Kenyan President William Ruto has directed CEOs of state-owned companies to curtail their operating budgets and mandated that 80% of after-tax profits be remitted to
The UAE has significantly invested in Morocco, with total investments amounting to USD 30 bln as the two countries continue to forge stronger economic connections.
Nigeria’s central bank increased interest rates by 200 bps to 24.75%, marking the second hike in recent weeks. This move comes in response to inflation
South Africa’s ruling African National Congress (ANC) faced a setback as it failed to remove a rival party, endorsed by former leader Jacob Zuma, from
The East African Crude Oil Pipeline (EACOP) Ltd. has initiated operations at a new pipe-insulation plant in Tanzania’s Tabora region. The pipeline, stretching 900 miles,
Tunisia’s finance minister noted that the country is committed to fulfilling its foreign debt obligations, with payments totaling 25 bln dinars due this year, including
Uganda’s tourism industry witnessed a significant revenue jump, with earnings rising by 49% YoY to USD 984 mln. Despite this increase, revenues are still trailing
Argentine President Javier Milei is initiating a substantial reduction in public sector employment, aiming to dismiss 70,000 government workers as part of a broader campaign
Colombia and Brazil have publicly criticized Venezuela’s electoral process, following reports that opposition candidates were hindered from registering for the upcoming July 28 election. Both
Colombian Finance Minister Bonila has expressed willingness to consider adjustments to the pension reform bill, particularly concerning the threshold for worker contributions. The reform aims
Paraguay’s economy saw significant growth of 4.7% in 2023, rebounding from a marginal increase the previous year. This upturn was driven by advances in agriculture,
China’s Cosco Shipping’s USD 1.3 bln Chancay port project in Peru, set for inauguration later in the year, has encountered regulatory challenges concerning service exclusivity.