Brazil
Brazil’s central bank raised its Selic rate by 100 bps to 12.25%, citing inflation risks and external and internal pressures. With robust domestic economic activity,
December 12, 2024
Brazil’s central bank raised its Selic rate by 100 bps to 12.25%, citing inflation risks and external and internal pressures. With robust domestic economic activity,
Argentina’s inflation rose 2.4% MoM in November, down from 2.7% in October, marking the lowest increase since mid-2020 and below market expectations. Annual inflation surged
Tunisia’s government plans a Sukuk sale in its 2025 budget, with authorization to guarantee loans or Islamic bonds totaling 8 bln dinars. The government also
South Africa’s inflation rose 2.9% in November, slightly above October’s 2.8%. The slower rise was due to a decline in food inflation to 2.3% from
Kenya’s shilling rallied 21% in the first seven months of 2024 but has since remained stable at around 129 per USD with low volatility. Despite
Ghana’s cedi has remained stable, supported by a surge in foreign exchange from tourism and an IMF disbursement following peaceful elections. The IMF’s approval of
Egypt’s Finance Minister Kouchouk announced that in Q1FY25, the Ministry will diversify its funding sources, attracting local investors to reduce external borrowing, and issuing green
Israel launched extensive attacks on military sites in Syria, targeting airfields, weapons production sites, and warehouses, particularly around Damascus. The Israel Defense Forces (IDF) neutralized
The Mongolian government and Germany’s KfW Development Bank agreed to convert EUR 29 mln of Mongolia’s debt into public health investments under the Global Fund’s
The National Bank of Kyrgyzstan sold USD 88 mln on December 9, 2024. In total, the bank conducted 24 currency interventions in 2024, amounting to
The ADB maintained Kazakhstan’s 2024 GDP growth forecast at 3.6%, with 5.1% expected in 2025. Inflation is expected to rise from 8.4% in November to
Azerbaijan produced 7 bln cubic meters (bcm) of gas in its fields in January-November 2024, a 9.1% decline from the previous year. Total gas production
Russia’s annual inflation increased to 8.9% in November from 8.5% in October, surpassing market expectations. Services and food prices increased by 11.4% and 8.9%, respectively.
Thailand introduced new debt-relief measures to assist 1.9 mln retail borrowers and small businesses with 890 bln baht (USD 26 bln) in loans, including for