China
China’s economic growth likely slowed in Q2 2024, with anticipated growth of 5.1% compared to last year, the lowest in three quarters. Despite this, the
July 16, 2024
China’s economic growth likely slowed in Q2 2024, with anticipated growth of 5.1% compared to last year, the lowest in three quarters. Despite this, the
India’s inflation rose to a four-month high in June, reaching 5.08%, up from 4.75% in May, justifying the central bank’s stance to maintain higher interest
India’s FX reserves reached a record USD 657.16 bln in the week of July 5, following the inclusion of the country’s sovereign debt in the
Pakistan secured a new USD 7 bln loan agreement with the IMF, providing financial leeway for PM Sharif’s government to stabilize its struggling economy and
The IMF granted Papua New Guinea immediate access to USD 125 mln to support reforms, enhance debt sustainability, alleviate FX shortages, and improve governance and
HSBC Bank upgraded Vietnam’s GDP growth forecast for this year to 6.5% from 6.0%, following stronger-than-expected growth in Q2. However, inflation concerns persist, particularly with
Kazakhstan’s central bank lowered its policy rate by 25 bps to 14.25%, citing a continued slowdown in inflation during May and June, which was below
Meanwhile, Kazakhstan’s central bank noted that the Kazakhstani tenge experienced over-appreciation in H1 2024 due to increased FX sales from the oil fund, driven by
Serbia’s disinflation intensified, with inflation dropping to 3.8% YoY, which is comfortably within the central bank’s target range of 1.5-4.5%. The bank responded by cutting
The Eurasian Development Bank reported a 56% increase in remittances from Tajik migrants working abroad during Q1 2024 compared to the same period in 2023.
Three southern African countries have agreed to advance a rail and port project enabling Botswana to export its substantial coal reserves through Mozambique. The AfDB
Ghana’s inflation rate decreased slightly to 22.8% in June from 23.1% in May. Food inflation rose to 24.0%, while non-food inflation dropped to 21.6%. Officials
Guinea’s trade surplus expanded significantly in April, reaching 3.29 tln francs, up from 375.4 bln in March. This increase was driven by a 2.6% rise
Following deadly protests, Kenya’s budget deficit is projected to widen to 3.6% of GDP, up from a previously estimated 3.3%, due to the cancellation of
Nigeria’s central bank engaged in FX transactions, selling USD 67.5 mln to 27 authorized dealers and buying USD 2.5 mln from one dealer at rates
South Africa’s Finance Minister Godongwana briefed the newly formed coalition government on the nation’s fiscal parameters. Key discussions over the next two days will include
Uganda plans to purchase domestically produced gold to bolster FX reserves and mitigate investment risks, following capital flight exacerbated by recent anti-LGBTQ legislation, which led
Argentina’s central bank will start selling USD in the country’s parallel FX markets from Monday, as announced by Economy Minister Caputo. This action is part
Colombia’s government will introduce a bill to finance debt payments once the 2025 budget proposal is approved, without increasing the value-added tax. Tax revenue is
Guatemala’s GDP grew by 3.3% YoY in Q1 2024, up from 2.0% in the previous quarter. Additionally, Guatemala’s current account surplus expanded to USD 467.2
Peru’s core inflation remains high, influenced significantly by an 8% increase in water bills in February. Despite this, the Peruvian economy is expected to grow