Mexico
President Trump agreed to delay 25% tariffs on Mexico after talks with President Claudia Sheinbaum, with markets reacting positively. The delay followed an agreement for
February 4, 2025
President Trump agreed to delay 25% tariffs on Mexico after talks with President Claudia Sheinbaum, with markets reacting positively. The delay followed an agreement for
Honduras’ inflation rose 4.27% YoY in January, up from 3.88% in December. Elsewhere, President Xiomara Castro warned that Honduras could expel the US military if
US Secretary of State Marco Rubio highlighted President Trump’s focus on migration during a deportation flight from Panama to Colombia. Rubio praised Panama’s efforts to
Argentina’s central bank will reduce its crawling peg to 1% per month from 2%. The bank cut the policy rate by 300 bps to 29%.
President Trump threatened to cut off US funding to South Africa after accusing the country of mistreating certain groups and expropriating land. In response, South
Nigeria’s cabinet approved a USD 1 bln loan request from the World Bank, with USD 500 mln allocated for human capital development and USD 500
Nigeria aims to boost daily oil production to 2.7 mln barrels by 2027, driven by improved security and new refinery output. The country plans to
Mauritius’ public sector debt rose 3.7% to MUR 608 bln in Q4 2024. Domestic debt increased to MUR 441.2 bln, and short-term borrowings rose 15%.
Kenya’s inflation rose to 3.3% in January from 3.0% in December, driven by higher food and transport costs. Food prices rose 6.1%, with tomatoes up
Ghana’s annual inflation eased to 23.5% in January, down from 23.8% in December. Non-food price growth slowed, while food inflation remained high at 28.3%. The
Arab foreign ministers from Qatar, Jordan, UAE, Saudi Arabia, and Egypt rejected Trump’s proposal to relocate Palestinians from Gaza to Egypt and Jordan. They affirmed
Uzbekistan’s inflation rose 9.9% YoY in January, up slightly from 9.8% in December. Earlier in January, the central bank held interest rates at 13.5% for
Serbia’s credit rating was held by Fitch at BB+ with positive outlook, referencing strong growth, reduction in fiscal debt, and effective inflation management. These positive
Kazakhstan’s central bank plans to sell USD 550-650 mln of FX from the National Oil Fund in February, down from USD 850 mln in January.
Despite recent tariffs on Canada, Mexico, and China, Bloomberg Economics has maintained its growth and monetary policy projections for Southeast Asia, though risks have shifted.
Crude oil prices dropped below USD 72/barrel after China imposed tariffs on US products in retaliation for US tariffs. China’s 15% tariffs on coal and