Peru
Following the recent interest rate cut, Peru’s central bank forecasts activity near potential and inflation around the target. While inflation expectations are decelerating, the central
January 13, 2025
Following the recent interest rate cut, Peru’s central bank forecasts activity near potential and inflation around the target. While inflation expectations are decelerating, the central
BofA’s Carlos Capistrán ruled out immediate US tariffs on Mexico and Canada, while forecasting eventual tariffs on China. He also dismissed the likelihood of large-scale
Guatemala’s overseas remittances grew by 10% year-on-year in December, reaching USD 1.941 bln, up from USD 1.734 bln in November. The country’s GDP grew 3.5%
The IMF released a negative evaluation of its USD 44 bln program in Argentina, marking a technical step before President Javier Milei negotiates a new
Morocco welcomed over 17 mln tourists in 2024, setting a new record with a 20% increase from 2023. Tourism now accounts for around 7% of
Mali is set to receive 750 bln CFA francs (USD 1.2 bln) from miners in Q1 2025, following a major overhaul of its mining sector.
Ghana’s new finance minister pick, Cassiel Ato Forson, aims to secure additional support from the IMF as the country recovers from a major debt crisis.
Gambia saw a 4% increase in remittances in 2024, reaching USD 776 mln, which now accounts for 31.5% of GDP. This growth was driven by
Egypt is ramping up diplomatic efforts in the Horn of Africa and Red Sea region to enhance security and recover from a 60% drop in
Iran has been conducting secret diplomatic missions to Russia to enhance its military and defense capabilities, particularly its nuclear program and air defense systems. Senior
Azerbaijan will avoid suspending gas supplies to Serbia despite challenges, according to Serbian President Aleksandar Vucic. The announcement came after force majeure issues were reported,
Serbia left its benchmark interest rates unchanged at 5.75%, in line with the median forecast, though some analysts had expected a 25bps cut. The central
Mongolia’s inflation rose to 9.0% YoY, up from 8.1% previously, the highest reading since October 2023.
Moldova’s inflation last month jumped to 7.0% YoY, up from 5.4% in the previous month, driven by the rising prices of services.
Azerbaijan’s President Aliyev dismissed Finance Minister Sharifov, who now becomes Deputy PM after serving in the finance ministry since 2006. Analysts commented that the policy
Armenian officials announced the formal start of EU accession, prompting Russia to claim this will effectively result in Armenia exiting the Russian-led Eurasian Economic Union.
Armenia’s inflation rose to 1.5% YoY in December, the highest rate since April 2023. At its last monetary policy meeting in December, the central bank
Ukraine’s inflation picked up to 12.0% YoY in December, from 11.2% previously, exceeding the consensus forecast of 11.8%.
The EU disbursed its first EUR 3 bln tranche of a loan to Ukraine, backed by interest earned on frozen Russian assets. Meanwhile, the FT
Sri Lanka’s consumer prices fell by 1.7% YoY in December, continuing a deflationary trend from the previous month. Deflation is expected to persist through April
Emerging-market central banks are intensifying efforts to shield local currencies from speculative attacks and fiscal shortfalls. In Latin America, central banks are battling hot money,