India
Bloomberg Economics forecasts that India’s reserves will surpass USD 700 bln by March 2025, enhancing the Reserve Bank of India’s ability to stabilize the rupee
May 7, 2024
Bloomberg Economics forecasts that India’s reserves will surpass USD 700 bln by March 2025, enhancing the Reserve Bank of India’s ability to stabilize the rupee
Pakistan anticipates receiving the final IMF tranche by the end of the week. This disbursement is expected to bolster the country’s reserves to approximately USD 10 bln
Vietnam’s central bank resumed gold bar auctions after an 11-year break, selling 3,400 taels of gold amid soaring domestic prices that have exceeded global rates
President Biden told Ukrainian President Zelensky that US weaponry would arrive “quickly”. Congress will give its final approval to a funding package that includes USD
Azerbaijani President Aliyev said on Tuesday that a peace deal with Armenia was closer than ever before, as teams from both countries began demarcating the
The Belarusian government has introduced another tightening measure for companies from “unfriendly” countries operating in the local market, setting restrictions on the payment of profits
Georgia’s ruling party, Georgian Dream, has initiated public discussions on constitutional amendments to prohibit “LGBT propaganda,” citing the protection of family values and minors. This
Serbia will extend its IMF program by another two years. Finance Minister Mali met with the IMF’s Georgieva and stated that the move is a
Uzbekistan’s foreign trade deficit decreased in Q1 2024, falling to USD 3.05 bln from USD 3.29 bln the previous year. Exports rose by 10% YoY
Algeria’s trade surplus declined by 56% to approximately USD 12 bln in 2023, down from USD 23.6 bln in the previous year, mainly driven by
The IMF forecasts Kenya’s GDP growth to decelerate to 5% in 2024 from 5.3% in 2023, with a rebound to 5.3% in 2025. Recently, Kenya
In other news, the IMF projects that sub-Saharan Africa will grow by 4.0% in 2025, driven by private consumption and investment. Kenya, along with Côte
Africa Finance Corporation (AFC) has committed to developing a major green energy project in Morocco to transmit solar and wind power to the UK via
In Niger, China National Petroleum Corp. made a USD 400 mln advance payment for crude oil purchases, providing crucial financial support to Niger’s junta following
The Nigerian naira experienced a third consecutive day of weakening, despite recently reaching three-month highs, as Nigeria grapples with shrinking dollar liquidity and a decline
Research from South Africa’s central bank has explored the impact of reducing the inflation target to 3% from the current range of 3% to 6%.
The World Bank has halted funding for a tourism and conservation initiative in Tanzania amid concerns over human rights violations. The halted project, known as
In Bolivia’s high-altitude city of El Alto, economic strains are evident as the national currency’s peg to the USD has collapsed, inflating prices and exacerbating
Costa Rica arranged a USD 160 mln contingent loan from the World Bank, designed as a financial safeguard against significant natural disasters. This flexible loan
The World Bank committed to supporting the Dominican Republic’s initiatives to diversify its energy sources, focusing on renewable energies to achieve carbon neutrality by 2050.
S&P affirmed Guatemala’s ‘BB’ credit rating and improved its outlook from stable to positive. This decision reflects Guatemala’s consistent application of prudent macroeconomic policies, even