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China’s local governments will accumulate hidden debt

Location:

CHINA

Local governments’ fiscal positions have become increasingly untenable post-pandemic amid a property market downturn. Record numbers of local government financing vehicles (LGFVs…

Mexico candidates’ economic plans are overly ambitious

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MEXICO

Their economic proposals are intended to impress voters but seem largely uncosted and risk generating unrealistic expectations of the winner. Polling points to a clear victory for…

Kenya’s new budget targets significantly lower deficit

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KENYA

After redeeming much of its USD2bn Eurobond in February, the government has effectively dispelled fears of a default. Nevertheless, it remains under pressure to consolidate public…

South Africa faces fiscal reform challenges

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SOUTH AFRICA

However, there are question marks over his ability to deliver on the ambitious spending cuts needed as tax collection falls in a weak economy.

El Salvador poverty will create problems for Bukele

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EL SALVADOR

President Nayib Bukele is highly popular, having implemented hard-line security policies that have reduced murder rates dramatically. He was re-elected in February by a landslide…

Ethiopia faces tough negotiations around IMF programme

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ETHIOPIA

Addis Ababa must reach an agreement with the IMF to honour its commitments under its debt-service suspension agreement with official creditors. Thereafter, further talks will be…

Turkey will reduce inflation gradually

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TURKEY

Although the central bank has increased interest rates substantially since June 2023, the effects on economic activity and inflation have been limited. Prices and policy…

Lack of CBN reform may fuel more corruption in Nigeria

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NIGERIA

Cardoso has promised to prosecute any entities involved in making fraudulent claims. The Deloitte audit is one of three concurrent investigations into the bank’s management under…

Pakistan will be optimistic about its IMF talks

Location:

PAKISTAN

Islamabad now seeks a larger, longer-term bailout programme with the Fund. Finance Minister Muhammad Aurangzeb has suggested that a staff-level agreement on such a package could…

Post-poll turmoil may worsen Pakistan’s economic woes

Location:

PAKISTAN

The elections, resulting in a fractured mandate and marred by allegations of rigging, have increased polarisation. Separately, Pakistan’s nine-month, roughly USD3bn Stand-By…