GlobalSource Partners | Country Insights

A little over two weeks ago, on Friday, February 10, the editor of the Financial Times (FT) Alphaville blog, Robin Wigglesworth, describing Jamaica’s economic turnaround, said “This is as close to a miracle as you are ever likely to see.” His comments were based on the press release on the IMF...

Monetary Council tomorrow, Moody's rating review on Friday

HUNGARY · In Brief · 27 Feb 2023

The Monetary Council is set to hold its regular monthly rate-setting meeting tomorrow (February 28). There is once again broad analyst consensus, which we share, that no interest rate move is likely on this occasion. Although analysts seem to believe that CPI-inflation peaked in January, there wo...

Shekel weakness likely to continue without a reasonable compromise regarding the judicial measures

ISRAEL · In Brief · 26 Feb 2023

Israeli macro highlights 27/2/23 The main issue impacting markets recently has been the judicial measures pushing forward in the Israeli Knesset. Part of these reforms were voted upon last week (1st vote out of three) and further progress on this legislation is expected this week. So far, no real...

Putin says that NATO is participating in the conflict

CIS POLITICS · In Brief · 26 Feb 2023

On February 23 the Russian President spoke on TV and said that NATO countries have entered the conflict inasmuch as they have provided USD 10s of billions of arms to Ukraine. He accused NATO of plotting to split Russia up into several different countries. He accused them of abetting Ukrainian war...

Chile signs on to TPP11

CHILE · In Brief · 24 Feb 2023

In the 1990s and 2000s, signing free trade agreements became almost routine for Chile. But when Chile’s adhesion to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP, or TPP11) finally became official this week, it was a big deal. One of the slogans of Chile’s 2019 ...

Lula will meet with Jean Paul Prates today, the president of the PT criticized the Central Bank again, and next week the chairs of the permanent committees of Congress should be finalized

BRAZIL POLITICS · Report · 24 Feb 2023 · 1 response

President Lula’s meeting with Petrobras President Jean Paul Prates was postponed from yesterday to today. One of the topics is the PIS and Cofins tax exemption on gasoline, which ends on February 28. Yesterday, PT President Deputy Gleisi Hoffmann (PR) once again criticized the Central Bank on Twi...

The first year of the war

UKRAINE · In Brief · 24 Feb 2023

A year ago, we woke up to a new reality. It was a day when all Ukrainians had to start anew, reevaluating themselves and their surroundings. However, it was also a day that put everything in its place. All the previously complex issues became simple and clear with just one click. The Russian lead...

Energy import prices look much lower than expected for now

HUNGARY · Report · 23 Feb 2023

In our latest forecast, released last month, we predicted rising energy import prices, as the weather is getting back to its normal seasonal track after the unusual warm weather recorded this winter. Indeed, winter is approaching its end, and the weather is not that exceptionally warm anymore in ...

Webinar Replay: Earthquake Aftermath - A new roadmap for Turkey

TURKEY · Report · 17 Feb 2023

Following the tragic loss of life and destruction brought by the magnitude 7.8 earthquake that shook Turkey and neighboring Syria on February 6th, get insight into the impact of the earthquake and Turkey's path for recovery. Visit our calendar page to watch the replay of our webinar featuring Mur...

Webinar replay: Ecuador's February elections - A critical political thermometer

ECUADOR · Report · 17 Feb 2023

What do the results of the Ecuador's constitutional referendum and local elections indicate about the national trends and how will they affect the macroeconomic outlook? Visit our calendar page to watch the replay of our webinar featuring Magdalena Barreiro as she discusses what the elections and...

Justice Moraes asked to review the case that deals with the calculation of taxes, Lula gave an interview to CNN, and next week will be the Carnival holiday

BRAZIL POLITICS · Report · 17 Feb 2023

Supreme Federal Court (STF) Justice Alexandre de Moraes asked to review the case that deals with the exclusion of the presumed Tax on Industrialized Products (IPI) credit resulting from exports for the calculation of the PIS and Cofins taxes. President Lula had an exclusive interview with CNN. He...

Kazakhstan macro: expect robust economic growth in 2023 and still-high inflation

KAZAKHSTAN · Report · 17 Feb 2023

Kazakhstan’s Bureau of National Statistics reported that the country’s GDP grew by 3.2% in 2022 and, in nominal terms, reached KZT101.5 trln ($220.5 bn). The country’s GDP per capita rose to $11.2K as population reached nearly 19.78 mln people, and despite some weakening of the tenge last year, G...

Rate hike of 0.5% expected on Monday

ISRAEL · In Brief · 17 Feb 2023

Rate hike of 0.5% expected on Monday Recent economic and political developments in Israel will support a more aggressive monetary tightening than initially expected. We expect a hike of 0.5% to 4.25% tomorrow, due to the following factors: The inflationary environment remains “sticky”. Core infla...

Russian women giving birth in Argentina

CIS POLITICS · In Brief · 17 Feb 2023

Since 2022 thousands of Russian women have flown to Argentina because giving birth there confers Argentine citizenship on their babies. Russians can travel to Argentina without a visa. Argentines can travel visa free to 175 countries. Some of the women came to Argentina on one-way tickets. Some R...

Russia: a brief market watch

RUSSIA ECONOMICS · In Brief · 16 Feb 2023

The Russian financial markets remain in the area of turbulence. On the eve of the first anniversary of the start of a special military operation in Ukraine, media are reporting about the forthcoming new sanctions package, which will be introduced by the EU and potentially US next week. Besides, i...