China
China declined an IMF suggestion to utilize central funds to complete unfinished housing projects. A recent rescue initiative includes a 300 bln yuan fund from
August 6, 2024
China declined an IMF suggestion to utilize central funds to complete unfinished housing projects. A recent rescue initiative includes a 300 bln yuan fund from
The Indian rupee depreciated to a record low of 83.7 against the USD. Despite the overall weakening of the USD amid expectations of a dovish
Pakistan’s PM Sharif has written to China’s president seeking restructuring of power sector loans, highlighting potential savings of about USD 1 bln yearly if Chinese-built
The Philippines significantly reinforced a World War II-era ship in the South China Sea, ensuring its viability for another decade amid regional tensions. China reiterated
Thailand is advancing its initiative to establish legalized casinos to enhance its tourism sector and attract significant foreign investment and revenue. Tourism significantly impacts Thailand’s
Ukraine made a USD 200 mln payment to holders of its GDP warrants, which were not included in its recent USD 20 bln Eurobond restructuring.
S&P downgraded Ukraine’s credit rating to SD due to a missed coupon payment on its 2026 Eurobond. This action reflects ongoing financial difficulties exacerbated by
The UAE and Azerbaijan have committed to expanding their economic ties, with non-oil trade between the two nations surging 68% to over USD 1.64 bln
Ethiopia, aiming to restructure USD 4.9 bln in debt under the G20’s Common Framework, expects agreement from creditors for restructuring, akin to recent adjustments by
According to Guinea’s finance minister, the economy is projected to grow by 4.2% this year, below the previously forecast 5.4%. The budget deficit is projected
Kenya’s inflation rate declined to 4.3% YoY in July, the lowest in four years, influenced by a strong shilling and reduced electricity and fuel costs.
Fitch downgraded Kenya’s rating (IDR) to B- from B, maintaining a stable outlook. The downgrade reflects increased risks to Kenya’s public finances and political stability
Nigeria’s sovereign-risk premium reached an eight-month high, and its USD bonds underperformed significantly in emerging markets due to concerns that recent cost-of-living protests could undermine
Colombia’s central bank has revised its 2024 inflation forecast upwards to 5.7% from 5.5%, citing potential accelerations in food inflation and regulated cost spikes. The
The Dominican Republic’s central bank held its policy interest rate at 7.0%, influenced by high US interest rates, elevated commodity prices, and increased shipping costs.
Paraguay’s inflation rate increased slightly to 4.4% in July 2024, up from 4.3%, marking the highest rate in a year. The rise was primarily driven