India
Indian PM Modi’s party, BJP, is expected to lose its majority in parliament, requiring coalition support to form the next government. That represents a significant
June 10, 2024
Indian PM Modi’s party, BJP, is expected to lose its majority in parliament, requiring coalition support to form the next government. That represents a significant
Myanmar’s economy is facing deepening crisis conditions, with the kyat plummeting almost 70% against the USD since 2021 and inflation remaining in double digits. FX
Vietnam’s central bank indicated that the local selling price of gold bars may continue to decline as efforts to align domestic prices with global market
Ukraine is implementing further electricity rationing following Russian strikes on its energy sector, which also disrupted imports from the EU. The attacks caused technical issues
Georgia’s inflation rate rose by 0.4% MoM in May, with the annual rate rising to 2.0% from 1.5%, influenced by a base effect from last
The IMF projects that Kazakhstan’s GDP will grow by 3.5% in 2024 while inflation will decelerate to 8%. In April, the IMF forecasted Kazakhstan’s GDP
Serbia plans to issue its inaugural sustainable bond to leverage its resilient economy, which is nearing an investment-grade credit rating. In April, S&P Global Ratings
Uzbekistan’s inflation rate sharply rose by 2.8% MoM in May, the highest since December 2017, driven by rises in utility prices. Annual inflation surpassed 10.5%,
According to the IMF, Angola should persist with tightening its monetary policy until inflation aligns with government targets. Following consecutive rate hikes, the most recent
Egypt’s net FX reserves reached a record high of USD 46.1 bln at the end of May, driven by a significant investment deal (USD 14
Ghana’s central bank reported a loss of USD 708 mln in 2023, attributed mainly to a sharp increase in interest expenses from open market operations,
According to Rand Merchant Bank, the Nigerian naira is expected to stabilize due to a decline in pressure from forward central bank FX contracts. Outstanding
South Africa’s economy contracted by 0.1% in Q1 2024, influenced by election uncertainties and declines in key sectors such as mining and manufacturing The economic
Uganda’s central bank has held its benchmark rate at 10.25%. Inflation, although rising moderately, is lower than previously projected due to a stable exchange rate
Zambia and the IMF have agreed to increase IMF support from about USD 1.3 bln to USD 1.7 bln in SDR. Due to drought, Zambia’s
Brazil’s GDP rose by 0.8% in Q1 2024, driven by robust household consumption and an 11.3% QoQ increase in agriculture. Despite these gains, high borrowing
Guatemala’s central bank reported improved inflation expectations for 2024, projected to close at 4.02% this year and 4.07% in 2025. Economic growth expectations for 2024
Paraguay experienced a third month of accelerating inflation, reaching 4.4% YoY in May, driven by higher prices for fresh produce and restaurant services. Core inflation