China
Deflation concerns in China are intensifying, with recent data showing minimal consumer price growth outside of food costs amid declining incomes. Despite official reluctance to
September 11, 2024
Deflation concerns in China are intensifying, with recent data showing minimal consumer price growth outside of food costs amid declining incomes. Despite official reluctance to
Political uncertainties ahead of the September elections in Sri Lanka have intensified market pressures, with investors concerned about the potential impact on debt restructuring negotiations
Moody’s raised Kazakhstan’s sovereign credit rating to Baa1 with a stable outlook, citing government efforts to diversify the economy beyond oil and gas and to
Algerian President Abdelmadjid Tebboune was reelected with 94.7% of the vote in an early election viewed by critics as designed to prevent serious competition. His
Egypt’s trade deficit narrowed by 5.1% YoY in June to USD 2.87 bln. The decline was influenced by decreased exports of fertilizers and crude petroleum,
Fitch Solutions forecasts Ghana’s unemployment rate to average around 4% through 2026. The firm also highlighted ongoing economic challenges for Ghanaian households, exacerbated by inflationary
Kenya revised its budget deficit forecast up by 28% to KES 767 bln for the fiscal year ending June 2025, following the withdrawal of new
Namibia’s state-owned electricity provider, Nampower, partnered with Chinese companies to construct the nation’s largest solar photovoltaic plant. Financing will be largely supported by a loan
The EU will provide South Africa with two grants totaling EUR 32 mln to develop its green hydrogen industry, leveraging the country’s rich wind and
Argentines have increased their dollar deposits by 40% to USD 19.8 bln since President Milei took office on December 10. That reflects growing confidence in
Bolivia’s monthly inflation rate rose 1.6% in August, the highest since February 2011, escalating the annual inflation rate to 5.2%. This rate exceeds the central
Colombia is experiencing renewed pipeline attacks by the National Liberation Army (ELN), following the collapse of peace talks. These attacks are part of the ELN’s
Bangladesh completed a payment of USD 1.37 bln with the Asian Clearing Union, affecting its foreign exchange reserves. Post-payment, the reserves stood at USD 19.46
Vietnam is on track to meet its 15% credit growth target for the year, with a reported increase of 7.75% as of September 7. The
Armenia’s central bank cut its benchmark interest rate by 25 bps to 7.5% in September, continuing its easing cycle to support price stability, with a
Belarus experienced a rise in annual inflation to 6.1% YoY in August, the highest since February 2023, while monthly consumer prices decreased by 0.1%.
Mongolia reported an inflation rate of 6.5% in August, down from a peak of 16.4% in July 2022. This reduction is credited to increased foreign
Ghanaian commercial banks have restarted imposing fees on foreign exchange accounts following a pause due to regulatory pressure. That includes a USD 5 fee for
S&P noted that Mozambique faces significant fiscal challenges with large domestic-currency debt repayments due in the coming years. The agency highlighted the risk of continued
Rwanda’s annual inflation rate increased to 1.7% YoY in August, driven by higher housing and utility costs. On a monthly basis, consumer prices surged by
Rwanda’s inflation rate rose to 5% YoY in August, slightly up from 4.9% in July, with food prices increasing by 1.6% YoY.
Senegal’s USD bonds saw a positive performance, with yields on the nation’s 2048 bonds decreasing by 15 bps to 9.7%. The IMF has lowered Senegal’s
Moody’s anticipates an improvement in asset quality and a peak in non-performing loans for South African banks this year, bolstered by political stability, slowing inflation,
South Africa is working to address 22 key items identified by the Financial Action Task Force (FATF) to exit the global gray list by June
Tanzania’s annual inflation rate marginally increased to 3.1% YoY in August, driven by a rise in prices of miscellaneous goods and services. Monthly consumer prices
The IMF advised Uganda to utilize forthcoming oil revenues to mitigate growth constraints and enhance social development while promoting governance and financial inclusion. While Uganda’s
The Brazilian real has weakened, approaching a recent low due to a stronger USD and fiscal concerns. Despite easing inflation at 4.24% YoY in August,
The Dominican Republic reported an inflation rate of 0.4% MoM in August, with an annual CPI increase of 3.4%, well within the central bank’s target.
Guatemala recorded a -0.1% monthly change in its inflation rate in August, a significant slowdown from the 0.9% rise in July, bringing the annual inflation
Fitch has expressed concerns that Peru is unlikely to meet its revised fiscal deficit target of 2.8% of GDP for 2024, now forecasting a deficit