India
India’s finance ministry projected a conservative economic growth of 6.5%-7% in FY24/25, citing global risks. This forecast is lower than the previous year’s 8.2% growth
July 24, 2024
India’s finance ministry projected a conservative economic growth of 6.5%-7% in FY24/25, citing global risks. This forecast is lower than the previous year’s 8.2% growth
Citigroup raised Malaysia’s 2024 growth forecast to 5.2%, above the government’s expectations, after the country reported stronger-than-anticipated economic growth last quarter. Citigroup anticipates a possible
Ukraine has preliminarily agreed with private creditors to restructure over USD 20 bln of its international debt, aiding its defense efforts against Russia. The deal
Azerbaijan invited Armenia’s foreign minister to the COP29 climate conference later this year, marking a significant gesture as there have been no formal bilateral visits
Azerbaijan’s President Aliyev announced potential plans to route the country’s gas exports to the EU through Ukraine after its current gas supply agreement with Russia
Serbian President Vucic has proposed a third term for the current Governor of the National Bank of Serbia, Jorgovanka Tabakovic, who has been in office
Algeria’s state-owned Sonatrach and Sonelgaz are set to sign contracts with foreign partners to export electricity to Europe, combining natural gas and renewable energy sources.
Egypt’s external debt decreased to USD 153.86 bln at the end of May from USD 168.03 bln at the end of December. Net FX reached
Cocoa futures surged by 6.4% in New York, marking the largest intra-day rise in over a week, fueled by Ghana’s decision to restrict certain supplies
Kenya’s budget financing gap is now projected at 4.2% of GDP, up from an initial 3.3% and a revised 3.6% after tax proposals were dropped
The UAE and Mauritius signed an economic agreement to boost non-oil bilateral trade to USD 500 mln in five years from USD 170 mln in
Morocco’s annual inflation rate rose to 1.8% in June 2024, the highest since January 2024, driven by rising food prices. Monthly prices rose by 0.4%,
BofA predicts South Africa’s central bank will cut the benchmark interest rate by 25 bps at its upcoming meetings in September, November, January, and March.
South African President Ramaphosa enacted a law allowing early withdrawals from retirement funds, with the National Treasury, anticipating about 28 bln rand (USD 1.5 bln)
Uganda’s central bank reported a stable economic environment with low inflation and a stable exchange rate due to prudent monetary policy and strong GDP growth.
Brazilian President Lula da Silva and Finance Minister Haddad are in discussions to appoint a new central bank governor amidst investor speculation about potential changes
Russian President Putin emphasized the dynamic development of a strategic partnership with Nicaragua in international affairs. Concurrently, Nicaraguan President Ortega criticized sanctions against Russia, underlining
Paraguay’s central bank held its policy rate at 6%, marking the fifth consecutive hold. Key factors included stable international oil prices and declining agricultural commodity