Peru
Peru’s Finance Minister proposed raising the 2025 fiscal deficit ceiling to 2.8% from 2.2% to avoid slowing the economy. The change must be approved by
May 30, 2025
Peru’s Finance Minister proposed raising the 2025 fiscal deficit ceiling to 2.8% from 2.2% to avoid slowing the economy. The change must be approved by
Honduras posted a Q1 2025 trade deficit of USD 1.46 bln, 19.5% lower YoY, as coffee exports surged due to high global prices. Imports grew
Costa Rica’s GDP grew just 0.2% q/q in Q1 2025, down from 1.6% in Q4, dragged by a 5.4% slump in investment. YoY growth was
Costa Rica was classified as low-risk under the EU’s Deforestation-Free Regulation, simplifying export procedures for agricultural goods like coffee and cocoa. Forest cover has risen
Zambia’s inflation fell to 15.3% in May, an 11-month low, driven by lower food and fuel prices. The Finance Minister expects a return to single-digit
South Africa’s central bank cut rates by 25 bps to 7.25%, citing lower inflation risks tied to reduced VAT plans, stronger currency, and lower oil
Nigeria’s naira stabilized around 1,598/USD at the official market after recent USD 190 mln central bank interventions. Market confidence has improved with narrowing spreads between
Egypt plans to add another LNG import vessel to its fleet amid surging domestic demand and falling local gas production. It is in talks to
Kazakhstan reaffirmed it will not cut oil production despite exceeding its OPEC+ quota by 297,000 bpd in April. Officials told OPEC they will maintain output
Kazakhstan’s government plans to issue USD 2.5 bln in bonds to help cover a budget deficit of USD 8 bln this year. The Eurobond sale
The State Oil Fund of Azerbaijan (SOFAZ) invested USD 50 mln in ADNOC Gas Pipeline Assets to diversify holdings and deepen ties with the GCC.
The IMF reached a staff-level deal to release a new USD 500 mln tranche to Ukraine under the existing USD 15.5 bln program, with another
Philippines’ budget surplus widened to PHP 67.3 bln in April 2025 from PHP 42.7 bln YoY, driven by an 8% drop in spending. However, the
Laos’ inflation eased to 8.3% in May from 11.1% in April, with housing and utilities prices rising fastest at 21.6%. The government continues to tighten
Trump urged Fed Chair Powell to cut interest rates during their first in-person meeting, arguing that high rates put the US at a disadvantage vs