Emerging markets
Every item from Trenri daily that fell into Emerging markets, latest first.
June 2026 Β· 109
World Bank Forecasts Developing Economy Growth at 3.6%, Post-COVID Low
In its June 11 report, the World Bank said the Middle East conflict will drag developing country growth down to 3.6% in 2026, the lowest level since the COVID-19 pandemic.
South Asia Leads Emerging Regions with 6.3% Growth in 2026
According to the World Bank, South Asia is set to post the highest growth rate among emerging regions at 6.3% in 2026. Rising energy prices and food price pressures explain the dip from 7% in 2025.
Energy Shock Accelerates Renewable Energy Transition in Emerging Markets
A June 24 report by Triodos Investment Management found that the energy shock is accelerating adoption of solar, batteries, and electric vehicles across Asia, Africa, and Latin America.
World Bank: Global Growth to Slow to 2.5% in 2026 β Lowest Since COVID
The World Bank warned on June 11 that global growth will slow to 2.5% in 2026 due to the energy shock from the Middle East conflict. Gulf states are projected to see growth plunge from 3.9% to near 0%.
India to Chair BRICS 18th Summit in New Delhi in September
As 2026 BRICS chair, India will host the 18th summit in New Delhi on September 12-13. Russia's President Putin is expected to attend, and a foreign ministers' meeting was already held in May.
Indonesia Q1 2026 Growth at 5.61% β Fastest in Over Three Years
The Indonesian economy grew 5.61% in the first quarter of 2026, its fastest pace in more than three years, driven by a surge in government spending during the Eid holiday period and strong household consumption.
Brazil and China Deepen Rare Earth Mining Cooperation β $20B Trade Target
China has been Brazil's largest trading partner since 2009. In February, President Lula agreed to cooperate on rare earth and critical mineral mining, setting a target of $20 billion in bilateral trade by 2030.
India Won't Sign US Trade Deal Until It Secures Edge Over Rivals
Commerce Minister Goyal declared on June 25 that India will not sign an interim trade agreement with the US until it secures tariff advantages over Vietnam and Bangladesh. The July 24 deadline for the 10% tariff rate is fast approaching.
Indonesia Q1 GDP +5.61% β Highest Growth Since 2022
Indonesia's statistics agency reported GDP growth of 5.61% year-on-year in Q1 2026, driven by a Ramadan consumption surge and 21.8% growth in government spending.
ASEAN Economic Ministers Adopt Joint Statement on US Tariff Response
At the 32nd ASEAN Economic Ministers Meeting, member states adopted a joint statement reaffirming reduced intra-regional trade barriers and implementation of the second ATIGA amendment protocol in response to US tariff measures.
U.S.-Iran 14-Point Ceasefire Agreement Officially Signed in Switzerland
President Trump and Iran signed a 14-point memorandum of understanding in Switzerland on June 19. Key provisions include the reopening of the Strait of Hormuz and phased lifting of Iran sanctions; international oil prices dropped sharply immediately after signing.
β¦ RELATED STORYLINEG7 Evian Summit Agrees on Additional Russia Sanctions
At the G7 summit in Evian, France, June 15-17, seven nations jointly committed to additional sanctions on Russia's oil and gas sector and increased support for Ukraine's air defense capabilities. A united front against energy weaponization was emphasized.
U.S.-China Tariff and Rare Earth Talks Continue β Implementation Conflict Intensifies
As the U.S. and China continue negotiating tariff adjustments and rare earth export controls over the implementation of their 2025 trade agreement, whether China will follow through on its pledge to increase soybean purchases has emerged as the key flashpoint.
World Bank Cuts EM Growth to 3.6% β Lowest Since COVID
The World Bank's June report lowered 2026 global growth to 2.5% and emerging market growth to 3.6% β the lowest since the pandemic β citing the ongoing Middle East conflict as the main drag.
β¦ RELATED STORYLINEIndia Q1 2026 GDP Beats at 7.8%, Shrugging Off Middle East Risk
India's Q1 2026 GDP growth came in at 7.8%, above the 7.3% consensus estimate. Strong services and construction offset Middle East-linked energy headwinds, making India a standout among EM peers.
Brazil Eyes Faster Rate Cuts as Oil Drops, Stimulus Kicks In
With crude falling into the $75 range, inflation expectations in Brazil are easing and the central bank is expected to accelerate rate cuts. A R$160 billion stimulus package is also set to bolster growth.
β¦ RELATED STORYLINEHormuz blockade hits day 100; Brent $107, emerging markets reeling
Iran's three-month closure of the Strait pushed Brent to $107/bbl. Non-energy commodities spiked in tandem. EM growth near Middle East brink expected to touch zero in 2026.
β¦ RELATED STORYLINEIndia-EU trade deal locked for 2026 signing, textiles duty-free
January's India-EU FTA moves to formal ratification within the year. Textiles, leather, and gems get instant zero tariffs into EU. Brussels commits additional $590 million carbon support.
ASEAN digital trade accord clears, $2 trillion goal on track
ASEAN's regional digital economy framework (DEFA) completed substantive negotiation. November signature targeted. Regional e-commerce access for Philippine and Vietnamese SMEs unlocks $2 trillion 2030 target momentum.
World Bank cuts sub-Saharan Africa growth to 4.1%, inflation to 4.8%
Revised 2026 forecast down 0.3 percentage points. Middle East conflict ripples: fertilizer and energy prices surge, mid-rate inflation reaches 4.8%.
Philippines manufacturing PMI 48.3, Southeast Asia slowdown spreads
Contraction signal flashing as energy and shipping costs bite. New orders collapsing amid rising input pressure. Export outlook clouds across the region.
US and Iran Launch Official 60-day Nuclear Talks in Switzerland
The Trump administration and Iran completed a ceasefire and Strait of Hormuz reopening MOU on June 18, launching 60-day nuclear negotiations in Switzerland starting June 21. The key disputes center on uranium enrichment scope and suspension duration, with both sides showing disagreement immediately after signing, making negotiation success uncertain.
β¦ RELATED STORYLINEXi Jinping Visits North Korea for First Time in 7 Years, No Denuclearization Mentioned
Chinese President Xi Jinping visited Pyongyang on June 8-9 for a summit with Kim Jong-un, agreeing to expand economic, trade, and technological cooperation. The two leaders did not publicly mention denuclearization, with analysts viewing China's move as an attempt to recover influence over North Korea following its tilt toward Russia.
President Lee Declares 2026 Turning Point for Korea-China Relations, APEC Shuttle Summit Planned
President Lee Jae-myung agreed with Xi Jinping at their January 2026 Beijing summit on comprehensive restoration of Korea-China relations, with shuttle summits expected to resume during APEC. Cultural and creative cooperation expansion and West Sea structure issue discussions were included in the agreement.
Korean oil tanker makes first passage through Hormuz after reopening
South Korea's Foreign Ministry announced on June 20 that a Korean oil tanker carrying approximately 2 million barrels of crude oil successfully transited the Strait of Hormuz after the US-Iran MOU reopened the waterway. Talks continue to secure the release of 25 Korean vessels still detained in the Gulf.
β¦ RELATED STORYLINELee Jae-myung meets Trump at G7 β Trump signals renewed focus on North Korea
President Lee Jae-myung met with Trump on the sidelines of the G7 summit on June 19 and conveyed that Trump said 'it's time to focus on North Korea,' signaling interest in renewed talks with Kim Jong-un. Trump followed up by posting a photo from the 2018 North Korea summit on Truth Social, widely seen as a diplomatic signal.
Russia-Ukraine peace talks remain deadlocked after G7 Evian summit
The G7 Evian summit reaffirmed continued military and financial support for Ukraine and committed to tightening sanctions on Russia, but Russian Foreign Minister Lavrov refused to recognize European nations as negotiating parties, leaving prospects for meaningful peace talks deeply uncertain.
Brent settles at $80 after Hormuz reopens β Korea's energy costs ease
After the US-Iran MOU signing in Switzerland (6/19), Brent crude settled above $80. Korea, which routes 70% of its oil imports through the Strait of Hormuz, expects lower energy costs and freight rates to revive competitiveness in semiconductors and petrochemicals.
β¦ RELATED STORYLINEG7 Evian summit agrees on tighter Russia energy sanctions and Ukraine missile licenses
G7 leaders signed a joint statement on June 17 in Evian approving additional sanctions on Russian oil and gas, and in a surprise move authorized licensed domestic production of long-range missiles for Ukraine.
Korea-US summit focuses on North Korean nukes β Trump signals openness to Kim talks
President Lee Jae-myung held a summit with Trump on the sidelines of the G7, with North Korean denuclearization dominating the agenda. Trump signaled willingness to engage with Kim Jong-un, raising the prospect of renewed US-North Korea contact.
U.S.-Iran MOU signed at Swiss Burgenstock, Strait of Hormuz reopened after 4 months
The U.S. and Iran officially signed an MOU to end the 107-day war on June 19 at Burgenstock, Switzerland, declaring immediate and permanent cessation of military operations and opening the Strait of Hormuz. Pakistan and Qatar served as mediators, and Iran's crude exports were immediately permitted.
β¦ RELATED STORYLINEG7 Evian closing...Trump agrees on stronger Russia sanctions and Ukraine long-range missile support
At the G7 summit in Evian, France on June 15-17, President Trump signed the joint statement, agreeing on additional Russia sanctions and approval for domestic production of long-range missiles and air defense systems for Ukraine. Notable as Trump's first G7 joint declaration agreement since taking office.
Russia-Ukraine Geneva peace talks stalled...territorial and security guarantee differences remain unresolved
Russia-Ukraine peace talks in Geneva ended without concrete results, accompanied by Zelensky's statement that Russia is intentionally delaying. While 185 prisoners were exchanged, disagreements over control of eastern territories and security guarantee mechanisms persist.
G7 Evian summit concludes with joint statement on energy security and AI regulation
The 52nd G7 Leaders' Summit in Evian-les-Bains closed on June 17 after adopting a joint statement covering energy infrastructure, critical mineral supply chain diversification and clean energy financing for developing nations. South Korean President Lee Jae-myung attended the final session as a guest nation.
US-Iran MOU Geneva signing confirmed for June 19, VP Vance to attend
The 14-point MOU ending the 107-day US-Iran war will be formally signed in Geneva on June 19. Vice President JD Vance will attend as the US representative, with Pakistan and Qatar having brokered the agreement. Nuclear concessions are deferred to a separate Phase 2 process.
β¦ RELATED STORYLINEG7 pushes for 4-party Russia-Ukraine peace format, negotiations still deadlocked
G7 leaders at Evian discussed a 5-point peace framework proposed by the UK, France and Germany and called for a US-Europe-Ukraine-Russia 4-party negotiation format. No final agreement was reached during the summit, leaving the conflict's diplomatic track in continued deadlock.
G7 Evian Day 2: Russia-Ukraine 5-Point Peace Framework Discussed
On the second day of the G7 Evian summit, President Zelensky met G7 leaders to discuss a 5-point peace framework proposed by the UK, France, and Germany. Whether a 4-party negotiation format (US, Europe, Ukraine, Russia) would be adopted was the key sticking point, with a final deal unlikely before the summit closes.
US-Iran 14-Point MOU Finalized β Official Signing June 19 in Geneva
The US and Iran finalized a 14-point memorandum of understanding brokered by Pakistan and Qatar. The formal signing ceremony is set for June 19 in Geneva. Key provisions include the immediate lifting of US port blockades and the reopening of the Strait of Hormuz; nuclear concessions will proceed in a separate second phase.
β¦ RELATED STORYLINEHormuz Strait Set to Reopen June 19 β First Ship Transit in 106 Days
Under the US-Iran MOU, the Strait of Hormuz β blockaded for 106 days β is scheduled to reopen June 19. President Trump announced that mine-clearing operations and merchant ship transit would begin on signing day. Energy markets reacted sharply, as roughly 20% of global crude passes through the strait.
β¦ RELATED STORYLINEUS-Iran Nuclear Weapons Ban MOU Close to Signing, 85% Probability
President Trump said an MOU in which Iran pledges to permanently renounce nuclear weapons is imminent. Iran has tentatively agreed to close nuclear facilities and dispose of nuclear material in exchange for phased sanctions relief and release of frozen assets.
β¦ RELATED STORYLINETrump Sets June Deadline for Russia-Ukraine Peace Deal, Territorial Issues Unresolved
President Zelensky confirmed the Trump administration gave a June deadline for a Russia-Ukraine peace agreement. While 90% of a 20-point peace plan is reportedly agreed, core sticking points β including Russian troop withdrawal from Donbas β remain open.
Post-Shangri-La Dialogue, US-China Stability Signals Emerge Amid Continued Rivalry
The May 29β31 Shangri-La Dialogue in Singapore saw the US and China express a shared desire for strategic stability. However, structural competition over the South China Sea, Taiwan Strait, and key sea lanes continues unabated.
US-Iran Nuclear Talks Reach Final Agreement Draft; Signing Imminent Before June 30 Deadline
According to CNN reporting on June 12, the US and Iran agreed on a final agreement draft under Pakistan's mediation, with Iran committing to permanently abandon nuclear weapons development. Whether signing occurs before the June 30 deadline is the key question.
β¦ RELATED STORYLINEFive New Countries Elected to UN Security Council, Including Zimbabwe and Austria
On June 3, the UN General Assembly elected Zimbabwe, Trinidad and Tobago, Austria, Portugal, and Kyrgyzstan as non-permanent members for the 2027-28 term. Shifts in balance of power among African, Latin American, and European blocs are drawing attention.
Russian Forces Resume Strikes on Odessa and Sumy; Cumulative Losses Exceed 1.38 Million
On June 12, Russian forces heavily targeted a solar power plant in Odessa and eastern Sumy, injuring 6 civilians. Cumulative Russian combat losses since the war began have surpassed 1.38 million.
Indonesia rupiah hits post-1997 low; BI hikes to 5.5% in emergency move
The rupiah slumped to IDR 18,190 per dollar β the weakest since the 1997 Asian financial crisis β prompting Bank Indonesia to surprise-hike rates from 5.25% to 5.5% on June 9. The currency has lost 8% against the dollar this year.
β¦ RELATED STORYLINETurkish lira breaches 46 per dollar; court ruling adds political shock
The lira slid to 46.27 per dollar on June 12, down 7% year-to-date, after a Turkish court invalidated the Republican People's Party congress results. May inflation came in at 32.61% for the second consecutive monthly rise.
β¦ RELATED STORYLINEIndia's RBI retroactively scraps foreign bond taxes to defend the rupee
The Reserve Bank of India retroactively abolished capital gains and interest taxes on foreign government bond investments from April 1 to stabilize the rupee on June 5. USD/INR stands at 94.95 β down 10.47% over 12 months β with foreign net selling exceeding $19 billion.
β¦ RELATED STORYLINEBrazil COPOM meets June 16, Selic decision uncertain amid 4.36% inflation
Brazil's monetary policy committee meets June 16. Markets price an 84.5% probability of a further cut, but with 2026 IPCA inflation forecast at 4.36% β near the upper limit of the target band β the outlook is increasingly uncertain.
β¦ RELATED STORYLINEBank Indonesia hikes to 5.50% in an emergency move to defend the rupiah
An off-schedule June 9 meeting added 25bp after May's 50bp. With the rupiah sliding on Iran-driven outflows, BI acted between meetings and paired the move with a foreign-investment incentive package, sacrificing growth for the currency.
β¦ RELATED STORYLINERBI holds at 5.25% and unveils a $40B inflow package to back the rupee
The June 5 MPC kept the repo rate at 5.25%, cut its growth view to 6.6% from 6.9% and raised CPI to 5.1%. It also rolled out wider G-Sec access and tax breaks targeting up to $40B of inflows to shore up the rupee.
β¦ RELATED STORYLINESARB signals further hikes, warning on war-driven oil inflation
After a May 28 hike to 7.00%, South Africa's central bank flagged the chance of another increase this year on June 10. Persistent crude strength is darkening the inflation outlook, making the next meeting a key driver for the rand.
β¦ RELATED STORYLINEBrazil's COPOM meets June 17: another Selic cut versus inflation risk
With the Selic at 14.50%, markets price an 84.5% chance of a 25bp cut on June 17, but a 2026 IPCA forecast near 4.36% and a central-bank call of 4.6% narrow the room, crossing with a weaker real on dollar strength.
β¦ RELATED STORYLINEArgentina clears IMF second review; peso band now tracks inflation
The IMF signed off on May 21, releasing about $1B more of the $20B EFF. The peso band (921 floor, 1,518 ceiling) now adjusts monthly to the latest inflation, prioritizing a firm peso over reserve accumulation.
Bank Indonesia hikes to 5.50% in emergency move to defend rupiah
Bank Indonesia moved up its June 9 meeting to raise the policy rate 25bp to 5.50%. With dollar strength from the Mideast war pushing the rupiah near record lows, it tightened again after a 50bp May hike.
β¦ RELATED STORYLINEIndia RBI holds at 5.25%, cuts growth to 6.6% as rupee stays weak
The RBI held the repo rate at 5.25% in June and cut its 2026 growth outlook to 6.6% from 6.9%. The rupee sat near 95.5 per dollar, and foreign outflows have reached 13.7 billion dollars year-to-date.
β¦ RELATED STORYLINESouth Africa SARB signals another 2026 hike, lifts inflation view to 4.4%
After a first hike in three years to 7.00% on May 28, the SARB on June 10 formally signaled a further hike this year, citing war risk. It raised its 2026 inflation forecast to 4.4% from 3.7%.
β¦ RELATED STORYLINEBrazil Copom decides Selic on the 17th, market lifts year-end view to 13.5%
Brazil's central bank cut Selic 25bp to 14.50% in April but narrowed cut prospects with hawkish minutes. Markets raised their year-end view to 13.5% on the Iran oil shock, with the June 17 Copom a turning point.
β¦ RELATED STORYLINEArgentina seals 50bn-dollar IMF deal, easing peso jitters
Argentina sealed a 50-billion-dollar stabilization package with the IMF on June 8 and received a first 15-billion-dollar tranche. It adds to the 20-billion EFF approved in April 2025, while Turkey's lira stayed weak past 46 per dollar.
β¦ RELATED STORYLINEBank Indonesia hikes rates early to defend the rupiah
Bank Indonesia raised its policy rate 25bp from 5.25% to 5.50% on June 9, moving more than a week ahead of its scheduled meeting. It was a preemptive step after the rupiah hit a record low of 18,170 per dollar.
β¦ RELATED STORYLINEIndia's RBI holds at 5.25% for a 3rd time, rupee near record low
India's central bank held its policy rate at 5.25% unanimously on June 5. With the rupee near a record low of 95.8 per dollar amid Middle East conflict, the RBI cut its FY26/27 growth forecast to 6.6%.
β¦ RELATED STORYLINEBrazil's Copom faces uncertainty ahead of June 17 Selic call
Brazil's central bank monetary policy committee Copom decides the Selic rate on June 17. The rate stands at 14.50%, and an Iran-war energy spike plus services inflation raise the odds of pausing further cuts.
β¦ RELATED STORYLINESouth Africa's SARB hikes to 7.00%, first rise in 3 years
South Africa's central bank raised its repo rate 25bp to 7.00% on May 28, its first tightening since 2023. With Middle East energy gains pushing April inflation near the target ceiling, it acted preemptively.
β¦ RELATED STORYLINEMexico's Banxico signals a hold after 6.50% cut, easing ends
Mexico's central bank cut its rate 25bp to 6.50% on May 7 and then signaled a hold with no further cuts. Amid Middle East geopolitical risk and a strong dollar, the easing cycle is seen as effectively over.
β¦ RELATED STORYLINEIndia RBI holds rate at 5.25% for 3rd time, defends rupee at 95.4
India's central bank unanimously held the repo rate at 5.25% on June 5, a third straight hold. As the rupee slid to a record near 95 per dollar, it defended the currency by easing foreign investment rules rather than hiking rates.
β¦ RELATED STORYLINEIndonesia reserves hit 2-year low of 144.9bn dollars on rupiah defense
On June 8, Bank Indonesia said May foreign reserves fell 1.3 billion dollars to 144.9 billion, the lowest since June 2024. With the rupiah at a record 18,170 per dollar, it intensified intervention atop its surprise 50bp May hike.
β¦ RELATED STORYLINESouth Africa SARB hikes for first time in 3 years to 7.0% to curb inflation
South Africa's central bank raised the repo rate 25bp to 7.0% on May 28, its first hike since 2023. Four of six members backed it, wary of second-round effects from Middle East-driven oil and food gains and rand weakness.
β¦ RELATED STORYLINEBrazil Selic at 14.50%, 80% chance of further cut priced for June 17 Copom
Brazil's Selic rate is 14.50% after a unanimous 25bp cut on April 29. Markets price an 80% chance of a further cut at the June 17 Copom meeting, though Copom turned hawkish, raising its 2026 inflation forecast to 4.6%.
β¦ RELATED STORYLINEMexico Banxico cuts to 6.50%, signals hold; peso firms slightly
Mexico's central bank cut 25bp to 6.50% on May 7, the lowest since April 2022, signaling the end of the easing cycle begun in 2024. Citing a Q1 contraction and slowing inflation, it flagged future holds.
β¦ RELATED STORYLINERBI holds policy rate at 5.25%, lowers GDP outlook to 6.6%
India's RBI unanimously held the policy rate at 5.25% on June 5. The central bank raised its FY27 inflation forecast to 5.1% citing Middle East energy price pressures, lowered growth outlook to 6.6%, and maintained a neutral stance.
β¦ RELATED STORYLINEIndonesia's BI surprises with 50bp hike to 5.25% to defend rupiah
Indonesia's central bank (BI) surprised with a 50bp rate hike to 5.25%, double what was expected. This marks the first increase since April 2024, aimed at stemming rupiah weakness and import inflation.
β¦ RELATED STORYLINESouth Africa's SARB raises 25bp to 7.0%, first increase in three years
South Africa's SARB raised the policy rate by 25bp to 7.0% on May 28, the first increase since 2023. The bank warned of second-round inflation effects from energy surges and raised its 2026 inflation forecast to 4.4%.
β¦ RELATED STORYLINETurkey holds 37% rate while intervening in FX; inflation resurges to 32.6%
Turkey's central bank held rates at 37% while directly intervening in currency markets to prevent lira collapse. May CPI hit 32.61%, the highest since October 2024, reigniting inflation pressures.
β¦ RELATED STORYLINEMexico's Banxico cuts to 6.50%, signals end to easing; EM bonds mixed
Mexico's Banxico cut rates by 25bp to 6.50% on May 7, signaling an end to the easing cycle. EM local currency bonds showed weakness on June 6 amid currency weakness.
β¦ RELATED STORYLINEIndia's RBI holds repo at 5.25% on June 5, neutral despite record-low rupee
The RBI's MPC unanimously held the repo rate at 5.25% on June 5, keeping a neutral stance. The rupee hit a record low of 96.96 per dollar; the FY27 inflation forecast was raised to 5.1% and growth cut to 6.6%.
β¦ RELATED STORYLINEBank Indonesia hikes 50bp to 5.25% in surprise to defend rupiah
Bank Indonesia raised its policy rate by 50bp to 5.25% on May 20 as the rupiah slid to a record low near 17,700 per dollar amid Middle East war-driven weakness. Markets had expected just 25bp, making it a shock.
β¦ RELATED STORYLINETurkish lira breaks past 46 per dollar to record low, down ~7% YTD
The Turkish lira broke past 46 per dollar in June to a record low, down about 7% year to date. Central-bank signals that disinflation will be slower than expected, due to Middle East energy and food shocks, drove the slide.
IMF calls Argentina's stabilization 'most successful,' sees 3.5% 2026 growth
The IMF praised Argentina's stabilization program as a recent best case, projecting about 3.5% growth in 2026 and year-end inflation near 25%. Daily FX purchases totaled about $7.5bn YTD, and net reserves improved.
South Africa's SARB holds at 6.75% as rand weakens to R15.80
The SARB held the repo rate at 6.75% at its first policy meeting of the year, though 2 of 6 members backed a 25bp cut. The rand weakened to about 15.80 per dollar, its softest since mid-2022.
β¦ RELATED STORYLINEIndia's RBI holds the repo rate at 5.25% unanimously June 5, keeps neutral stance
India's RBI held the repo rate at 5.25% unanimously at its June 5 MPC. Governor Malhotra cited West Asia geopolitics, an oil surge and monsoon uncertainty as key risks and kept a neutral stance, while cutting the FY27 GDP growth forecast to 6.6% from 6.9%.
β¦ RELATED STORYLINEIndonesia rupiah hits record 18,012/USD; parliament passes bill eroding BI independence
The Indonesian rupiah hit a record low of 18,012 per dollar on June 5. The same day parliament passed a central-bank revision adding growth and jobs to BI's mandate, and losses deepened despite a $25,000 monthly FX-purchase cap effective June 2.
β¦ RELATED STORYLINESouth Africa's SARB raises the rate 25bp to 7.00% on May 28, wary of inflation risk
South Africa's SARB raised its policy rate 25bp to 7.00% on May 28. Four of six MPC members backed the hike, wary of second-round inflation from an oil surge tied to the Middle East war. The 2026 inflation forecast was lifted to 4.4% from 3.7%, with the next decision due in July.
β¦ RELATED STORYLINETurkey May inflation rises to 32.61%; lira keeps weakening, down 7% YTD
Turkey's annual May inflation rose to 32.61% from 32.37%, topping the 32.5% forecast. The lira hit 46.09 per dollar on June 5, down 7% year-to-date. The TCMB kept its policy rate at 37% but tightened effectively via a 40% overnight lending rate, highlighting the gap to its 24% year-end goal.
β¦ RELATED STORYLINEArgentina passes IMF 2nd review May 21, gets $1B; cumulative $15.8B
The IMF board completed the second review of Argentina's $20B EFF on May 21 and immediately disbursed $1B, bringing cumulative payouts to about $15.8 billion. The IMF cut its 2026 growth forecast to 3.5%, raised inflation to 30.4%, and judged net reserves only marginally positive.
India RBI seen holding at 5.25% on June 5 amid oil-shock caution
The RBI's MPC decides on June 5. SBI and others expect a 5.25% hold on global uncertainty and a weak rupee, while StanChart and BofA flag a possible 50bp hike given Iran-war oil and a 7% fuel rise.
β¦ RELATED STORYLINEIndonesia rupiah hits record low 18,020/USD, down 7.2% YTD
The rupiah hit a record 18,020/USD on June 4, down 7.2% YTD and among the weakest EM currencies. A balance-of-payments deficit, surging oil-and-gas imports and capital outflows broke the 18,000 line.
β¦ RELATED STORYLINESouth Africa's SARB hikes 25bp to 7%, first rise since 2023
The SARB raised its repo rate 25bp to 7% on May 28, its first hike since 2023, in a 4-2 vote. Middle East risk lifted inflation risks and April prices rose from 3.1% to 4%, hitting the target ceiling.
β¦ RELATED STORYLINEIMF clears Argentina's 2nd review, freeing $1 billion
The IMF board approved the second review of Argentina's $48B EFF on May 21, disbursing about $1B. It sees ~3.5% growth and ~25% year-end inflation, citing fiscal and labor reform progress.
β¦ RELATED STORYLINETurkey inflation 32%, lira at record low; Brazil Selic 14.5%, June 17
Turkey's April inflation reheated to 32.37%, pushing the lira to a record ~45.2/USD as the central bank held its policy rate at 37%. Brazil cut Selic to 14.5%; its next Copom meeting is June 16-17.
β¦ RELATED STORYLINEIndia RBI decision due June 5; 5.25% hold seen likely
The RBI meets June 3-5 and announces June 5. Markets expect a 5.25% repo-rate hold, balancing Middle East oil-driven inflation risk against growth support, with the inflation outlook in focus.
β¦ RELATED STORYLINEIndonesia's BI hikes a surprise 50bp to defend the rupiah
On May 19-20 Bank Indonesia raised its policy rate 50bp to 5.25%, exceeding the 25bp expected and its first hike since April 2024, after the rupiah weakened to 17,700/dollar amid war-driven volatility.
β¦ RELATED STORYLINESouth Africa's SARB hikes to 7%, first increase in 3 years
On May 28 the SARB raised the repo rate 25bp to 7%, its first hike since 2023, with 4 of 6 MPC members in favor. Citing Middle East second-round risks, it sees 2026 inflation at 4.4%.
β¦ RELATED STORYLINEArgentina clears IMF 2nd review, draws another $1 billion
On May 21 the IMF board completed Argentina's 2nd EFF review, approving about $1bn. Cumulative disbursements reached $15.8bn (80% of $20bn) as the peso firmed, up 13% in real terms vs end-2025.
Brazil's Copom turns hawkish, hints at pausing easing at 14.5%
Brazil's central bank cut Selic 25bp to 14.5% but warned it could slow or halt easing if the Iran-US conflict drags on. It raised its 2026 inflation view to 4.6%; the real rate near 10.9% is the world's highest.
β¦ RELATED STORYLINEBank Indonesia surprises with 50bp hike to defend rupiah
Bank Indonesia raised its policy rate by a surprise 50bp to 5.25% on May 20. Double the expected 25bp, it was a preemptive defense after the rupiah plunged to a record low amid Mideast turmoil.
β¦ RELATED STORYLINESouth Africa's SARB hikes to 7.0%, first in three years
The SARB raised its repo rate 25bp to 7.0% on May 28, its first hike since 2023, on a 4-of-6 vote. It lifted its 2026 inflation forecast to 4.4% on oil and drought risks.
β¦ RELATED STORYLINEArgentina clears IMF 3rd review, $1B disbursed
The IMF board approved Argentina's third quarterly review on June 2, releasing $1 billion. Cumulative receipts under the $20B EFF rose to $15.8B, with a waiver for missed reserve targets.
Turkish lira hits record low at 45.9 per dollar
The lira fell to a record 45.92 per dollar on June 2. The central bank held its 37% policy rate while April inflation hit a six-month high of 32.4%, sustaining downward pressure.
β¦ RELATED STORYLINEIndia's RBI seen holding at 5.25% on June 5
The RBI's policy panel meets June 3-5, with the decision due on the 5th. Despite the rupee down 5.66% year to date, most expect a third straight 5.25% hold, defending FX via intervention.
β¦ RELATED STORYLINEIndia RBI likely to hold rates at 5.25% for a 3rd time on June 5
The RBI's MPC meets June 3-5, with Governor Malhotra announcing on the 5th. Despite gasoline and diesel up about βΉ7.5/liter in May raising inflation concerns, a 5.25% hold is expected.
β¦ RELATED STORYLINEBank Indonesia surprises with 50bp hike to defend the rupiah
BI raised its policy rate 50bp to 5.25% at its May 19-20 meetingβits first 50bp hike since 2022βto defend a rupiah that fell to a record low amid Middle East war-driven global turmoil.
β¦ RELATED STORYLINESouth Africa's SARB hikes for first time since 2023, to 7.0%
SARB raised its rate 25bp to 7.0% on May 28βits first hike since May 2023βpassing 6-2. Middle East war-driven oil spike concerns and April inflation of 4% drove the move; the rand rebounded.
β¦ RELATED STORYLINEIMF approves Argentina's 2nd review, disbursing another $1B
The IMF board approved the second review of the $20B program on May 21, disbursing $1B for a cumulative ~$15.8B. Reserve targets were again missed, but Milei's reforms were credited; the inflation forecast was raised to 30.4%.
Turkey's central bank holds at 37%; lira hits record low 45.5/$
Turkey's central bank held its policy rate at 37% while effectively keeping tightening in place. Middle East war-driven energy and food shocks delayed disinflation, pushing the lira to a record-low 45.5 per dollar.
β¦ RELATED STORYLINEIndonesia BI surprise 50bp hike to 5.25%Β·first increase in 2 years
Bank Indonesia surprised markets on May 20 with a 50bp rate hike to 5.25%βdouble the expected 25bpβmarking its first increase in two years since April 2024. The decision aims to defend the rupiah, which has weakened 5.64% since the start of the year.
β¦ RELATED STORYLINETurkey lira hits record low 45.53Β·year-end inflation forecast raised to 26%
On May 15, USD/TRY hit an all-time high of 45.53, pushing the lira to its weakest level ever. The central bank held the policy rate at 37% but acknowledged disinflation delays, raising year-end inflation forecasts to 26% from prior guidance. April inflation stood at 32.37%.
β¦ RELATED STORYLINEIndia RBI 6/5 rate decisionΒ·expected 3rd consecutive hold at 5.25%
The RBI's monetary policy committee meets June 3-5 with results announced June 5. Markets expect a third consecutive hold at 5.25% with a neutral stance, though rising oil and commodity prices pushing retail inflation near 5% create significant caution.
β¦ RELATED STORYLINEMexico 6.5% easing cycle closesΒ·Brazil 14.5% shifts hawkish
Mexico's central bank cut 25bp on May 7 to 6.5%βthe lowest since April 2022βsignaling the end of its easing cycle. Brazil cut to 14.5% on April 29 but May minutes shifted hawkish, warning that Iran-triggered easing may pause given oil shocks.
β¦ RELATED STORYLINESouth Africa first hike in 3 years at 7.0%Β·Argentina receives 1B IMF disbursement
The South African Reserve Bank hiked 25bp on May 28 to 7.0%, marking its first increase in three years since 2023. April inflation stood at 4%. Argentina passed its second IMF review on May 21, receiving 1B dollars, bringing total support to 15.8B.
β¦ RELATED STORYLINE
May 2026 Β· 136
Indonesia BI surprise 50bp hike to 5.25% Β· rupiah defense in full force
Bank Indonesia raised its policy rate by 50bp to 5.25% at its May 19-20 meeting, double the market expectation of 25bp. As the rupiah weakened 2.2% to 17,700 per dollar, this marked the first hike since April 2024 to defend the currency.
β¦ RELATED STORYLINETurkey lira 45.74 all-time low Β· disinflation slowdown concerns emerge
On May 29, USD/TRY reached 45.74, setting another all-time low. The central bank signaled that disinflation will progress slowly due to Middle East energy and food shocks, raising year-end inflation forecast to 26%, accelerating weakness.
β¦ RELATED STORYLINEIndia rupee 95.7 Β· recovery from May 96.96 low with Trump peace talks
The Indian rupee trades near 95.7 per dollar following recent two-week strength. After accumulating 5% weakness following Iran conflict escalation, Trump's peace negotiation signals caused Brent to plunge 10.18%, prompting a rebound from the all-time low of 96.96.
β¦ RELATED STORYLINEBanxico 25bp cut to 6.50% Β· easing cycle termination signals
Mexico's central bank cut its policy rate by 25bp to 6.50% on May 7, reaching its lowest level since April 2022. A 3-2 split vote reflected Q1 growth contraction, signaling the end of the easing cycle, with the peso strengthening to 17.2.
β¦ RELATED STORYLINEIMF approves Argentina second review Β· $1B disbursement, cumulative $15.8B
The IMF Board approved Argentina's second review of its $20B program on May 21 and disbursed $1B, bringing cumulative disbursements to approximately $15.8B. However, 2026 inflation forecast was raised from 16.4% to 30.4%, while growth forecast was adjusted down 0.5pp to 3.5%.
South Africa SARB surprise 25bp hike to 7% on 5/28, first hike in 23 years; rand firms to 16.3
SARB voted 4-2 at its 5/28 MPC to raise the repo rate by 25bp to 7.00% β its first hike since 2023. April CPI rebounded from 3.1% to 4.0% and Iran/El NiΓ±o shocks were jointly reflected, with the 2026 inflation forecast raised to 4.4% and the rand firming to 16.3 β sending an EM currency signal.
β¦ RELATED STORYLINEIndia RBI 6/3-5 MPC D-7 β 5.25% hold for 3rd straight meeting consensus, inflation upgrade imminent
Governor Malhotra's RBI MPC convenes 6/3-5 with results announced 6/5. The market expects a third consecutive 5.25% hold, with revision of the 4.6% FY27 CPI forecast being the key debate. May flash PMI manufacturing 54.3 / services 58.9 also signal momentum softening.
β¦ RELATED STORYLINETurkey USD/TRY 45.90 Β· TCMB at 37% long-held Β· year-end inflation forecast 26%, weakness accelerates
USD/TRY stays at 45.8985 on 5/28 near all-time lows. TCMB has kept its policy rate at 37% for an extended stretch, with year-end inflation revised up to 26% and Iran-war shock adding further downside momentum β EM currency pressure compounds in layers.
β¦ RELATED STORYLINEBrazil COPOM cuts Selic to 14.50% by 25bp, second straight cut Β· Bovespa firm near 177,816
Brazil's COPOM cut Selic by 25bp to 14.50% at its 4/28-29 meeting β the second consecutive 25bp cut. Bovespa held firm near 177,816 with a positive bias, but May IPCA-15 at 4.64% leaves inflation pressure intact and constrains the magnitude of further cuts.
β¦ RELATED STORYLINEIndia May flash PMI: manufacturing 54.3 / services 58.9 Β· new export orders 19-month low
India May flash manufacturing PMI eased to 54.3 from 54.7, with services holding 58.9 from 58.8. New export orders fell to a 19-month low, signaling softer global demand and adding dual-sided pressure to the RBI June hold scenario.
β¦ RELATED STORYLINESouth Africa SARB 5/28 rates decision: 6.75% repo rate consensus on unanimous hold
South Africa's central bank is expected to unanimously hold repo rates at 6.75% and prime at 10.25% on 5/28. Middle East oil and inflation pressures are mounting, but a cautious stance remains the baseline scenario.
β¦ RELATED STORYLINEIndian rupee hits all-time low 95.80; RBI deploys 690 billion in forex reserves to defend
The rupee breached an all-time low of 95.80 per dollar on 5/13, down 6%+ year-to-date. RBI is undertaking indirect intervention via state banks and leveraging 690 billion dollars in reserves to manage volatility.
β¦ RELATED STORYLINERBI MPC looms 6/3β5; three consecutive 5.25% holds expected, but rupee weakness fuels hike pressure
Governor Malhotra's RBI Monetary Policy Committee convenes 6/3β5 with results 6/5. Markets expect three consecutive holds at 5.25%, but rupee weakness and oil shocks are gradually stoking near-term hike expectations.
β¦ RELATED STORYLINETurkish lira hits all-time low USD/TRY 45.5; TCMB holds 37% policy rate long-term
With TCMB maintaining its 37% policy rate, the lira hit an all-time low of 45.5 per dollar in mid-May. A 26% end-year inflation forecast and Middle East shocks are accelerating weakness.
β¦ RELATED STORYLINEBrazil Ibovespa steadies at 176,618; May IPCA-15 at 4.64% beats expectations, extending Selic hold
The Ibovespa closed 5/27 at 176,618, up 0.02%. May's IPCA-15 inflation came in at 4.64%, beating the 4.55% forecast, reinforcing expectations that Copom will hold the Selic at 14.50% through year-end.
SARB MPC 5/28 D-1, 6.75% hold vs 25bp hike split
South African Reserve Bank faces analyst split ahead of 5/28 MPC. Current 6.75% policy rate under new 3% inflation target pressure, 25bp preemptive hike vs wait-and-see hold remains tight contest.
β¦ RELATED STORYLINEUS-Iran deal hopes lift EM assets, Brent -6.2% as tailwind
5/25-26 US-Iran Hormuz opening hopes drove Brent -6.2% to $97.10, WTI below $90. MSCI EM Index +1.3% for 3-day rally, EM currencies also strengthened as oil decline became a tailwind.
β¦ RELATED STORYLINERBI 6/3-5 MPC D-7, repo 5.25% hold consensus
Per Business Standard 5/24 poll, RBI likely to hold repo rate at 5.25% at June 3-5 MPC. FY27 inflation forecast upside possible, StanChart projects cumulative 50bp hikes from June onward scenario.
β¦ RELATED STORYLINEIndia May Flash PMI manufacturing 54.3 cools, services 58.9
S&P Global 5/21 release shows India May manufacturing PMI at 54.3 (April 54.7), services 58.9 (58.8), composite 58.1, with new orders at 4-year low. Middle East conflict and export slowdown pressure manufacturing.
TCMB policy rate 37% hold, lira 45.5 record low defense
TRY/USD broke 45.5 record low in mid-May. CBRT raised overnight rate by 300bp to about 40% via FX intervention and 1-week repo suspension. Policy rate at 37% hold, disinflation delay officially acknowledged.
β¦ RELATED STORYLINEBI hikes 50bp to 5.25% defending rupiah at 17,700
Bank Indonesia raised policy rate to 5.25% with a 50bp hike at 5/19-20 meeting, exceeding market consensus of 25bp. Imported inflation from Middle East conflict and defending the rupiah at a record 17,700/USD cited as rationale.
β¦ RELATED STORYLINESARB 5/28 decision: 6.75% hold vs 25bp hike too close to call
South African Reserve Bank announces first MPC of cycle 5/28. With 5/6 fuel price pass-through expected to push headline CPI back to 4.2%, Governor Kganyago's data-dependent stance faces a retest.
β¦ RELATED STORYLINETurkish lira USD/TRY 45.71 record low; disinflation delays
Lira hit USD 45.61 as of 5/21, recently sliding to 45.71 at a record low. TCMB raised 2026 year-end inflation forecast to 26%, acknowledging Middle East-driven energy and food shocks are delaying disinflation.
β¦ RELATED STORYLINEIndia RBI conducts $5B swap to defend rupee at 97
RBI conducted $5B dollar-rupee buy/sell swap auction 5/26, providing liquidity ahead of 6/3-5 MPC. 10-year sovereign yields fell 6bp to 7.03%, maintaining a 250bp spread vs US.
β¦ RELATED STORYLINEBrazil IPCA slows to 4.39%, Selic 13% cut bets spread
May-released 12-month IPCA at 4.39%, sharply down from 5.53% prior, approaching but below the 4.5% target ceiling. Copom cut Selic by 25bp to 14.50% on 4/29; the real strengthened to 4.9123.
β¦ RELATED STORYLINEBI surprises with 50bp hike to 5.25% to defend rupiah
Bank Indonesia hiked BI rate 50bp to 5.25% on 5/20, the first 50bp hike since 2022 and exceeding market consensus of 25bp. Deposit rate raised to 4.75% and lending rate to 6.0% to counter rupiah weakness and import inflation pressure.
β¦ RELATED STORYLINEKRW/USD at 1,510 month low, KOSPI strong at 7,848
On 5/22 KRW/USD slid to around 1,510, a month low. Dollar strength and rising US Treasury yields weighed. Meanwhile KOSPI rose 0.41% to 7,848 the same day, with AI and semi momentum lifting it over 150% in a year, deepening stock-currency decoupling.
β¦ RELATED STORYLINETurkey CPI 32.37%, inflation reacceleration pressures TCMB
Turkey's April CPI accelerated to 32.37% year-over-year from 30.87% in March. Food +34.55%, housing/utilities +46.6%, transport +35.06% led broad rises. TCMB Inflation Report II released 5/14 signals further tightening possible.
β¦ RELATED STORYLINESouth Africa SARB 28th meeting, 25bp hike card emerges
Ahead of South African Reserve Bank's 5/28 rate decision, May 6 oil price pass-through expected to lift headline CPI to 4.2%. Markets now price 25bp hike likely from 6.75%, lifting prime rate to 11.50%.
β¦ RELATED STORYLINEBrazil real 5.02, hawkish Copom minutes drive volatility
Real weakened to 5.02 per dollar in late May, retreating from month-start 2-year high of 4.89. Copom minutes released 5/5 warned of slower easing cycle on Iran-US conflict, raising 2026 inflation outlook to 4.6%. Selic was cut 25bp to 14.50% in April.
β¦ RELATED STORYLINEIndonesia's BI surprises with 50bp hike to 5.25%
BI surprised markets on 5/19-20 with a 50bp hike instead of consensus 25bp, the first hike since April 2024. With the rupiah down 2.2% from late April to 17,700, currency defense and import inflation control are key aims.
β¦ RELATED STORYLINETurkey April CPI reaccelerates to 32.37%, disinflation stalls
Turkey's April consumer inflation reaccelerated to 32.37% from 30.87% in March. Food at 34.55%, housing at 46.6%, transport at 35.06% all rose. Middle East war-driven oil surge directly hits Turkey as an energy net importer.
β¦ RELATED STORYLINEWon at 1,510 per dollar, KOSPI closes up 0.41%
On 5/22 the won weakened to over one-month lows of 1,510, pressured by foreign selling and rising US Treasury yields. KOSPI rose 0.41% to 7,847, with Samsung Electronics and SK Hynix cementing the memory market panic reversal.
β¦ RELATED STORYLINESouth African rand at 16.46, SARB 25bp hike ahead
On 5/22 USD/ZAR rose 0.20% to 16.4633, staying near mid-month highs. With April headline CPI jumping from 3.1% to 4%, May 28 SARB 25bp hike to 7.0% is now consensus.
β¦ RELATED STORYLINEBrazilian real at 5.02, EM currencies weaken together
On 5/22 USD/BRL rose 0.13% to 5.0246. Fed hawkishness and Powell board member remarks extend high-rate expectations while Middle East geopolitics strengthen the dollar, causing broad EM currency weakness.
β¦ RELATED STORYLINEIndonesia BI surprises with 50bp rate hike, rupiah defends all-time low at 17,719
Bank Indonesia shocked markets May 20 by raising rates 50bp to 5.25%, exceeding 25bp consensus and marking the first hike in two years as a defense against the rupiah hitting all-time lows.
β¦ RELATED STORYLINEIndia RBI to conduct $5B USD/INR 3-year swap auction May 26
Reserve Bank of India announced May 26 a $5 billion foreign exchange swap auction with May 2029 maturity to inject 4.2-4.3 trillion rupees in long-term liquidity to banks.
β¦ RELATED STORYLINETurkish lira hits all-time low at 45.5 per dollar; CPI hits 6-month high 32.37%
Turkish lira breached 45.5 per dollar in mid-May, hitting all-time lows. Central bank raised year-end inflation forecast to 26% while keeping policy rate at 37%, delaying disinflation timelines.
β¦ RELATED STORYLINEBanxico cuts to 6.50% final rate, ending 2-year easing cycle
Mexico's central bank lowered rates 25bp to 6.50% on May 7, completing a 475bp cut cycle across 15 decisions since March 2024. The 3-2 vote split signals further easing has paused.
β¦ RELATED STORYLINEBrazilian real retreats to 5.07, profit-taking begins from 2-year highs
Brazilian real, which hit 4.89 per dollar (2-year best), retreated to 5.07 in mid-May as profit-taking entered the picture. The currency's recent strong momentum from high rates, oil, and soybeans hit a correction.
β¦ RELATED STORYLINEIndonesia BI shocks 50bp hike to 5.25% defending record-low rupiah
Rupiah breached 17,706; BI exceeded 25bp consensus with 50bp move. Dollar purchase cap halved.
β¦ RELATED STORYLINERBI announces $500M 3-year USD/INR swap auction as rupee weakens
Rupee approached 96.7 record low; RBI injects liquidity. Long-term stability play.
β¦ RELATED STORYLINETurkey lira breaks 45.5; CBRT signals disinflationary caution
USD/TRY hit 45.60 record low. CBRT raised inflation outlook to 26%. Rate hold at 37%.
β¦ RELATED STORYLINEBanxico final rate cut to 6.50%; easing cycle ends
May 7 cut lowest since April 2022. Split 3-2 signals no further cuts ahead.
β¦ RELATED STORYLINEBrazil BCB intervenes futures first time in 10 years vs dollar rally
Real strengthened to 4.89. BCB executed $500M reverse swap. Dollar rout unwound.
β¦ RELATED STORYLINEBrazil real slips 5.07; Bolsonaro scandal, US rates dual pressure
Brazilian real retreated 5.07 per dollar mid-May from month-start 4.89 two-year high. Bolsonaro fraud link plus US bond yield surge apply dual pressure.
Mexico Banxico cuts 25bp to 6.50%, easing cycle ends
May 7 Banxico cut policy rate to 6.50%, lowest since April 2022. 3-2 split decision reflected Q1 GDP contraction; forward guidance signals hold ahead.
β¦ RELATED STORYLINETurkey CBRT holds 37% policy rate; inflation report hawkish
Turkish central bank held one-week repo 37%, O/N band 40%-35.5%. May 14 inflation report reaffirms 5% target, hinting cautious easing path.
Vietnam MSCI watchlist candidacy looms; VN-Index +10.7%
SSI May strategy report flags June MSCI review upside. Vietnam meets 10 of 18 accessibility criteria; NPF, CCP progress fuels momentum. VN-Index April +10.7%.
Argentina Milei approval craters 35.5%; $25B debt looms
Six months post-midterm win, April approval tanked 35.5%, disapproval flipped 63%. $25B 2026 debt maturity forces reserves buildup, peso volatility reignition risk.
Turkish lira hits record low at 45.5/dollar despite 37% rates
Middle East energy and food shocks delay disinflation. Central bank held rates at 37% on May 14 yet currency tanked to all-time lows, reigniting emerging-market currency anxiety.
β¦ RELATED STORYLINEMexico's Banxico cuts 25bp to 6.50%, signals end of tightening cycle
First cut since April 2022 on May 7, split 3-2. Q1 contraction and easing demand-side price pressure stoked rate-cut bets that easing may be nearing its end.
β¦ RELATED STORYLINEEMXC rallies 29% year-to-date, reaping China rotation
Emerging markets ex-China ETF surges 58% annualized as capital reallocates from China. Governance concerns and geopolitical risk accelerate the pivot toward Brazil, Mexico, Vietnam.
β¦ RELATED STORYLINEBrazil steel prices spike 10% month-on-month, outpacing globe
Goldman Sachs ranks Brazil's steel inflation at 1st globally, beating Japan 6.5% and China 2.9%. China's delayed output cuts amplify Brazilian industrial tailwinds.
Vietnam's agricultural exports post $23 billion in four months, up 5.4%
JanβApr farm, forestry, and fishery exports crossed $23 billion, a 5.4% year-on-year gain. May 15 Mekong trade talks expand supply-chain ties with Cambodia.
Rupiah breaks through 17,500; Bank Indonesia steps in
The Indonesian rupiah collapsed past 17,500 per dollar. Bank Indonesia declared 24-hour emergency support across NDF, DNDF, and government-bond markets. April forex reserves fell to 14-year lows at $146.2 billion.
β¦ RELATED STORYLINEIndian rupee hits record 95.96; RBI mulls foreign bonds
INR sank to 95.96 per dollar, down 6% since January. Equity outflows total $2 billion since month-end. RBI is exploring state-bank foreign-currency issuance to revive capital inflows.
β¦ RELATED STORYLINETurkish lira slides to 45.5; CBRT holds rate at 37%
Middle East tensions drove April CPI to 32.37%; lira pierced 45.5. The central bank held policy at 37% and deployed a two-track approach: 40% lending ceilings to manage money growth.
β¦ RELATED STORYLINEBrazil's Copom signals pause in rate-cut cycle
The central bank cut 25 basis points in April to Selic 14.50%. May's minutes flagged that prolonged Iran tensions could pause further cuts. 2026 inflation forecast rose to 4.6%.
β¦ RELATED STORYLINEBanxico ends rate-cut cycle at 6.50%
Mexico's central bank cut 25 bp on May 7 to close out 14 consecutive cuts. Q1 GDP fell 0.8%; CPI stands at 4.53%. The peso is trading at 17.25; year-end guidance points to 18.33.
β¦ RELATED STORYLINETurkey lira hits all-time low USD/TRY 45.2
Middle East energy costs add pressure as April CPI reaches 32.4%, six-month high. Central bank forex interventions slow but don't stop weakness. Carry trades retain allure despite headwinds.
β¦ RELATED STORYLINEBrazil Copom shifts hawkish after April cut; holds Selic at 14.5%
After 25bp ease last month, May minutes signal pause if Iran conflict extends. 2026 inflation outlook revised up to 4.6%, exceeding target ceiling.
β¦ RELATED STORYLINEIndonesia rupiah continues slide to USD/IDR 17,544 but Q1 GDP stays robust at 5.61%
After 0.27% additional weakness May 14, growth hits best since late 2022. 10-year yields stable at 6.81%. Domestic demand remains solid.
β¦ RELATED STORYLINESouth Africa rand slips 1%; SARB rate hike talk emerges
Oil breaking $100 drives fuel outlook past 18%. After March hold, market reprices for possible tightening. Growth slowdown collision looms.
Vietnam Moody's outlook shifted to Positive; Ba2 maintained
May 4 upgrade sets Vietnam apart among EMs. Agricultural exports rose $23B, +5.4% YoY in JanβApril. Emerging Asia safe-haven demand appetite widening.
Rupiah crashes to record low of 17,525, central bank intervenes in spot and NDFs
Indonesian rupiah breaches all-time low on 5/13; Bank Indonesia enters spot and offshore NDF markets. Finance ministry declares Stability Fund (BSF) on standby.
Turkish inflation re-accelerates to 32.4% in April, highest since October
April CPI hits 32.37%. Central bank holds policy rate at 37% and halts one-week repo, pushes overnight rate to 40% to defend lira on 5/13.
Brazil's Copom turns hawkish, holds Selic at 14.50%, signals easing pause
On 5/5, Copom holds Selic at 14.50% and lifts Q4 2027 inflation view to 3.5%. Explicitly warns Iran-U.S. conflict could shorten or halt easing cycle.
Mexico's Banxico cuts to 6.50%, lowest since April 2022, signals easing end near
On 5/7, Banxico delivers 25bp cut to 6.50%, returning to lowest since April 2022. Q1 contraction and headline CPI at 4.45% justify move.
Vietnam FDI execution hits $7.4B in Jan-Apr, five-year high
January-April FDI actual disbursement $7.4B, up 9.8% YoYβfive-year peak. Manufacturing dominates at 82.7%; Singapore leads new capital inflows at 49.8%.
Indonesia rupiah breaches 17,500 per dollar
May 12 intraday 17,500 crossed, JISDOR May 13 fixed 17,496. Central bank signals possible rate hike H1 2026 to 5.00% from 4.75%.
Mexico Banxico ends 14-cut cycle at 6.50%
May 7 25bp cut closes 450bp easing cycle launched May 2024. Governor RodrΓguez Ceja signaled April 28 'final adjustment' in Senate.
Turkey lira hits 45.42 per dollar record weak
May 13 USD/TRY 45.4174 new low. April CPI 32.37%, highest since October 2025. Middle East conflict oil hikes hit energy-import Turkey hard.
Argentina peso 1,490, crawl tied to CPI pace
Band expands at monthly CPI velocity, ditching fixed 1% pace. Foreign reserves target $10B. Post-announcement peso -3.46% but bonds rally.
South Africa SARB holds 6.75%, eyes oil shock
March 26 second straight hold, unanimous. Middle East conflict lifts oil to 18% pump price forecast for Q2, CPI 4%. May 11 rand +0.53% to 16.44 per dollar.
Rupiah hits record low, breaking 17,500 per dollar
USD/IDR rose 0.55% to 17,516.80 on May 12, marking a new low for the rupiah. With the currency down 2.25% over one month and 5.47% over one year, markets are questioning Bank Indonesia's defense capacity and pricing a possible rate hike from 4.75% to 5.00% in May or June.
Turkish lira hits another record low at 45.4 per dollar
USD/TRY rose 0.14% to 45.3999 on May 12, setting another record low for the lira. The currency is down 1.65% over one month and 17.09% over one year, extending a gradual depreciation trend as Turkey's central bank tries to manage the pace through FX intervention.
MSCI EM index +7% YTD, led by technology
After a 34% return in 2025, the MSCI EM index is up 7% YTD in 2026. TSMC now exceeds a 12% weight and technology tops 30%, approaching S&P 500-like sector exposure. Consensus EPS growth stands at 17%, above developed-market peers.
Argentina prepares return to international bond markets after eight years
With more than $10B in external debt repayments due in the first half of 2026, Argentina is looking to return to international bond markets around midyear if yields compress further. A single January maturity alone totals $4B, making restored fiscal credibility the key condition for market access.
Brazil debt nears 80% of GDP ahead of October election
Brazil's public debt is approaching 80% of GDP ahead of an October election polarized between Lula and Bolsonaro camps, intensifying fiscal concerns. Mexico's post-2024 Sheinbaum playbook of revenue expansion and spending restraint is being discussed as a benchmark for the next governments in Brazil and Colombia.
Rupee breaks 95, RBI steps in
USD/INR hit 95.09 on May 11, a record low. The RBI deployed direct dollar sales via state banks, capped NOP limits at $100 million, and restricted NDF trading. PM Modi urged citizens to cut gold and foreign travel.
Sensex drops 1.19% on capital outflow fears
The BSE Sensex fell 917.67 points (1.19%) to 76,410.52 on May 11 as oil-driven growth fears weighed. Foreign investors continue exiting Indian equities, extending a 2025 trend.
Turkey CPI rebonds to 32.37%
Turkey's April annual CPI jumped to 32.37% from 30.87% in March, beating the 31.25% forecast and hitting its highest since October. Housing and utilities surged 46.6%; transport jumped 35.06%. The TCMB holds rates at 37%.
Brazil's Selic at 14.50%, cautious easing
Brazil's central bank cut its benchmark Selic rate from 14.75% to 14.50% on April 29. After holding at 15% through January, it has cut 50 basis points through March and April, even as geopolitical and external risks mount.
Banxico cuts to 6.50%, peso strengthens
Mexico's central bank cut rates to 6.50% on May 7. The peso rallied 0.76% the same day to 17.23 per dollar. The IMF warned in its April GFSR that commodity importers and vulnerable emerging markets face differential pressure from Middle East energy shocks.
Indian rupee crashes to record low of 95.43
India's rupee plunged to 95.43 per dollar on May 5 amid Iran-US tensions, shedding 20 paise to mark a fresh all-time low. The Sensex fell 600 points the same day.
BMI forecasts rupee to hold 95 through 2026
BMI projects the rupee will trade around 95 through year-end, with Iran tensions widening India's current-account deficit to 1.3% of GDP from 0.9%.
Argentina inflation forecast raised to 30.5%
Argentina's central bank May survey lifted inflation expectations to 30.5% by year-end, up 1.4 percentage points. March CPI hit 32.60%, easing from February's 33.20%.
Turkey inflation hits 55.38% annually
Turkey's April monthly inflation reached 5.07%, with year-over-year inflation at 55.38% per independent research firm ENAG. Economist Mahfi Egilmez warned of Argentina-style reacceleration after breaching 30%.
EM bond yields offer 6.9% premium
EM bonds yield 6.9%, well above global 3.6% and US 4.2%, according to VanEck. India's major-index inclusion should sustain structural inflows through 2026.
Nigeria growth forecast cut to 4.1%
The IMF April WEO trimmed Nigeria's 2026 growth forecast to 4.1%, down 0.3 percentage points. South Africa remains Africa's largest economy at $427B but recovery lags perception.
ASEAN Summit Closes in Cebu; Mediation on Cambodia-Thailand Border Dispute
The 48th ASEAN summit (May 6β8) presided over by Philippine President Marcos saw meetings between Cambodian and Thai PMs, with agreement on permanent diplomatic channels.
India-Vietnam Upgraded to Comprehensive Strategic Partnership with $25B Trade Target by 2030
During Vietnam's State President's May 5β7 visit to India, 13 agreements were signed. Q1 bilateral trade rose 28% year-over-year to $4.8 billion.
Macron to Host 'Africa Forward' Summit in Nairobi May 11β12
A summit with 20+ African leaders confirmed, including Senegal's and DRC's presidents, with Nigeria's Dangote confirmed as business representative.
South Africa Xenophobia Videos Spark Diplomatic Pressure from Nigeria and Kenya
Nigeria prepared voluntary repatriation flights while Kenya joined in demanding protection for nationals. South Africa denied videos were genuine.
Indonesia Targets 2027 GDP Growth of 5.9β7.5%
Announced May 7 in the government's 2027 work plan. Indonesia has 1,200 active fintech companies and is piloting digital rupiah (Project Garuda).
UPI Processes 22.35B April Transactions, 29.03 Lakh Crore Rupees; YoY +25%
According to NPCI data, April UPI transactions reached 22.35 billion units totaling 29.03 lakh crore rupees, representing 25% and 21% YoY growth respectively. Daily average volume reached 745 million, up from 730 million in March. UPI accounts for 85% of India's digital payments market.
Skyroot Aerospace Secures $60M Series C; India's First Space-Tech Unicorn
Led by Sherpalo, GIC, and BlackRock, Skyroot raised $60 million, achieving a $1.1 billion valuation. Cumulative capital raised totals $160 million with the Vikram-1 inaugural orbital launch imminent.
RBI Maintains Repo Rate at 5.25%; FY27 CPI Inflation Projected at 4.6%
On 4/8, the RBI Monetary Policy Committee unanimously held the repo rate at 5.25%, maintaining a neutral stance for the third consecutive meeting. FY27 CPI inflation is projected at 4.6%, with a peak of 5.2% in Q3. Growth outlook downgraded from 7.4% to 6.9%.
Snabbit Closes $56M Series D; Korea's Mirae Asset Co-Leads
Indian on-demand home services platform Snabbit closed a $56 million Series D on 5/7, co-led by Susquehanna, Mirae Asset, and Bertelsmann. This signals expanding Korean capital participation in India's consumer technology sector.
Pronto Quick Commerce Close $45M Series B at Doubled Valuation
Quick commerce player Pronto completed a $45 million Series B on 5/7 at a doubled valuation, marking headlines in India's funding roundup.
Kenya's Torrential Rains Trigger Flooding; Over 100 Deaths Reported
Weeks of heavy rainfall have claimed over 100 lives in Kenya, with thousands displaced. Additional precipitation warnings raise concerns of further devastation.
IMF: Emerging Markets to Grow 3.9% in 2026 vs. 1.4% for Developed Economies
The International Monetary Fund projects emerging markets will expand at 2.5 times the rate of advanced economies, driven by India's 6.4% forecast and momentum in Brazil. However, Strait of Hormuz risks remain a headwind for emerging market currencies and equities.
India to Host Fourth India-Africa Forum Summit on May 31
Under the 'IA SPIRIT' theme emphasizing innovation, resilience, and inclusive growth, the summit will deepen Global South cooperation.
North Korea Holds 11th Youth League Congress; Mobilizes Youth Labor Force
The Socialist Patriotic Youth League convened April 28β30 to amend its charter and elect new leadership, with emphasis on mobilizing youth labor for core economic initiatives.
China Q1 Exports Surge 14% But U.S.-Bound Shipments Decline 16%
China's first-quarter exports totaled $97.76 billion, posting double-digit growth. However, exports to the U.S. contracted 16% as China expands market share in emerging economies.
India GDP Projected to Grow 6.4% in 2026
Growth moderates from 2025's 7% range but remains among the global leaders. Tax and labor reforms support potential growth.
Brazil Slows Below 2% in Election Year; Income Tax Cuts Provide Buffer
Tight liquidity from elevated rates offset by large-scale income tax relief expected to support household consumption. 2026 presidential election presents a variable.
BYD Captures Brazil Market Leadership Position
BYD has become the first Chinese brand to claim the top spot in Brazil's overall vehicle sales, surpassing Volkswagen, GM, and Hyundai last month.
South Africa Approaches Investment Grade Recovery; Commodity Tailwinds Ease Fiscal Pressures
Rising commodity prices and improved power generation have boosted fiscal credibility, bringing an investment-grade recovery scenario within reach in coming years.
Emerging Market Growth Seen at Roughly Three Times Developed Markets
IMF and private sector consensus: 2026 EM growth expected to be approximately three times that of DM. India, ASEAN, and reform-oriented Latin America leading growth.
Moody's rates India as 'most resilient among emerging markets'
Analysis shows India has navigated all four major shocksβpandemic, 2022 inflation, 2023 banking crisis, and 2025 tariffsβwith superior performance.
India's GDP growth projected at 6.4% in 2026
Moderating from 7% levels in 2025, but maintaining global leadership.
BJP's first rule in West Bengal expands eastern foothold
End of TMC's 15-year governance expands Modi's BJP hegemonic power.
Brazil's growth rate moderates below 2%
Election-year fiscal normalization, though iron ore and agricultural exports drive trade balance.
2026 EM equity EPS growth consensus at 17%
Growth projected to be approximately three times faster than developed markets, attracting capital inflows.
IMF Projects 2026 Emerging Market Growth at 3.9%
The IMF World Economic Outlook raises emerging market growth projections to 3.9% in 2026 from 3.7% in 2025, with Southeast Asian and Middle Eastern expansion offsetting slowdowns in Latin America and Eastern Europe.
India's Growth Moderates to 6.4% from 7%-Plus Trajectory
India's GDP growth is forecast to decelerate from above 7% in 2025 to 6.4% in 2026, yet the country remains among the world's fastest-growing economies.
Brazil's Growth to Slip Below 2% Amid Electoral Cycle Pressures
Brazil is projected to grow below 2% in 2026 as financial conditions normalize and the presidential electoral cycle takes its toll, though large-scale income tax reductions may provide some offset.
Sub-Saharan Africa on Recovery Path to 4.3% Growth by 2027
Sub-Saharan Africa is forecast to grow 3.7% in 2025 and accelerate to 4.3% in 2027, supported by easing inflation, currency stabilization, and recovering consumption.
South Africa Shows Recovery Signals Amid Commodity and Infrastructure Relief
South Africa is positioning for recovery as rising mineral prices, alleviating electricity and logistics bottlenecks, and improving fiscal management converge.
Nigeria's Oil Producers Capture $4B Windfall
Brent Light crude surged from $70.14 to an average of $116.84βa 66% increase post-Iran conflictβdelivering approximately $4 billion in additional revenue to Nigerian oil companies.
MTN Reports Record Nigeria Results
Telecom operator MTN posted its strongest results in decades, driven by Nigeria's strong operational performance. CEO Ralph Mupita received record compensation.
South African Anti-Immigrant Violence Raises Regional Alarm
UBA Chairman Tony Elumelu publicly called for Nigerian government intervention following anti-immigrant violence in South Africa, expressing concern for Nigerian nationals residing there.
Moody's Rates India as Most Resilient Emerging Market
Moody's designated India as the most resilient emerging market amid global turbulence, citing its monetary policy framework as a key strength. 2026 GDP growth projected at 6.4%.
UAE Officially Exits OPEC at End of April
The UAE's departure from OPEC quotas opens pathways for expanded U.S.-UAE energy cooperation and represents a significant blow to the cartel's leverage.
Indonesia Q1 GDP +5.61% Year-over-Year; Exceeds Market Expectations
Growth exceeded consensus of 5.3%, marking the highest level since Q3 2022. Accommodation and food services grew 13.14%, retail 6.26%, construction 5.49%.
Sub-Saharan Africa Projected to Outpace Asian Growth in 2026
Per IMF projections, Sub-Saharan Africa is set to surpass Asia for the first time. Six of the world's top ten highest-growth nations are in Africa.
S&P Projects Sub-Saharan Africa 4.5% Mid-Range Growth for 2026-2028
This represents the highest rate among emerging markets, though tariffs, geopolitical fragmentation, and security threats pose risks.
ASEAN-6 GDP Growth Ranges 4.3%-7.1%; Global Capital Reallocation Evident
Cambodia, Vietnam, Indonesia, the Philippines, Laos, and Malaysia benefit from supply chain diversification, a key advantage highlighted by analysts.
Indonesian Rupiah Breaches 17,400 Level; Exposed to Oil Price Shocks
Initial fiscal assumptions pegged oil at $70 per barrel; prices now exceed $100, creating simultaneous currency and fiscal pressure.
IMF Lowers 2026 Emerging Market Growth Forecast to 3.9%
Down from January's 4.2% projection. Inflation pressures concentrate among raw material importers, with sub-Saharan Africa and Asian manufacturing PMIs hovering near the 50-level boundary.
Sub-Saharan Africa Growth Outlook Maintained at +3.7%
South Africa forecasted at a weakened 1.0%, while MENA food and energy importers face 4.2% downward pressure.
India Projected at +6.7% (Fiscal Year) and +6.4% (Calendar Year)
Per April IMF World Economic Outlook, growth forecasts remain consistent at 6.4% for both 2025 and 2026. Food and infrastructure inflation impacts remain contained.
Blinkit Achieves First Quarterly EBITDA Profitability
India's 10-minute quick-commerce platform Blinkit reported its inaugural quarter of EBITDA profitability, while core meal delivery demonstrated order volume recovery.
Manila May Day Demonstration Escalates at US Embassy
Kilusang Mayo Uno-organized labor protests saw demonstrators attempt to breach the US Embassy, with seven police officers sustaining injuries.
April 2026 Β· 149
Sub-Saharan Africa Poised to Exceed Asia's Growth for First Time in 2026
IMF estimates Sub-Saharan Africa will outpace Asia's growth rate in 2026 for the first time. Six of the decade's ten fastest-growing economies are African.
Southeast Asia Six-Nation Bloc Posts 4.3β7.1% Growth, Supply Chain Diversification Benefits
Milken Institute Global Opportunity Index 2026 projects Cambodia, Indonesia, Laos, Malaysia, Philippines, and Vietnam at 2024 real GDP growth of 4.3β7.1%. Geopolitical competition drives supply chain fragmentation and capital inflow.
South Asia Growth Projected to Decelerate to 6.3%
World Bank South Asia Economic Update (April 2026) downgrades 2026 growth from 7.0% to 6.3%, citing global energy market disruptions.
ADB Downgrades Asia-Pacific Growth to 4.7% Amid Middle East Crisis
ADB issued special update April 29 lowering Asia-Pacific growth from 5.1% to 4.7% due to prolonged Middle East tensions. India's growth adjusted down 0.6pp to 6.3%.
Lagos IoT West Africa and DC Cloud Expo Africa Convene April 28β30
IoT West Africa and Data Center Cloud Expo Africa held simultaneously at Landmark Centre, Lagos, April 28β30. Flagship platform for African digital transformation.
IMF Lowers 2026 Global Growth Forecast to 3.1%
The IMF projects 3.1% growth for 2026 and 3.2% for 2027, a downward revision. Inflation pressures and slowdown risks are concentrated in emerging and developing economies.
India Maintains 6.7% Growth Outlook Despite Global Slowdown
The IMF projects India at 6.4% for both 2025 and 2026. By fiscal year basis, India is tracking 6.7% growth, securing relative resilience during the global slowdown.
Sub-Saharan Africa Poised for 4.2% Growth in 2026-2027
Despite an 16-28% reduction in aid flows, sub-Saharan Africa is expected to recover to an average 4.2% growth rate in 2026-2027. However, debt crisis risks persist among aid-dependent nations.
Brazil's Growth Rate Forecast Dips Below 2%
Electoral cycle dynamics and normalizing financial conditions are moderating Brazil's growth. S&P Global warned emerging markets face re-emerging inflation risks.
India's GLP-1 Generic Flood Erodes Eli Lilly's Market Share
As generic weight-loss drugs flood India's market, Eli Lilly's market share is eroding. Novo Nordisk has fared relatively better in defending its position.
Sudan Humanitarian Crisis Affects 65% of Populationβ34 Million β FAO April
El-Fasher (North Darfur) and Kadugli famine confirmed; 20 additional districts in Darfur and Kordofan at risk. 4.2 million children and pregnant women need nutrition therapy.
Gaza Deir al-Balah First Local Elections β Abbas-Aligned Secure 6 of 15 Seats
First Gaza elections since 2006. Pilot scope covered single city; Gaza turnout 23%, West Bank 56%. Hamas-linked slate captured only 2 seats.
Vietnam GDP 7.2% β ADB Projects 2026 ASEAN Leadership
Vietnam achieved 8% growth in 2025; ADB forecasts 7.2% for 2026. IMF raised Indonesia estimate to 5.1%; World Bank adjusted to 4.7% (down 0.1 percentage point).
Sub-Saharan Africa 4.1% β 2026 Global Growth Leader
Robeco analysis (4/28): Nigeria and Ghana emerge as emerging market picks via reform and commodity acceleration. Broader emerging market region holds ~4%.
Tehran-Moscow Air Route Resumes 4/28 β Mahan Air, Two-Month Gap
Iran-Russia flights restart on day 60 of conflict. Simultaneously, Iran proposed nuclear talks delay in exchange for Hormuz releaseβTrump declined.
EM ETF Up 9% Year-to-Date
Broad-based emerging market ETFs rose 9% through April 27, recording four times the capital inflows of U.S. equities.
China Industrial Profits Up 15.8% in March
China's March industrial profits rose 15.8% year-over-year, demonstrating manufacturing resilience amid global oil shocks.
IMF Highlights Upside Risks for India and Brazil
The April IMF World Economic Outlook identifies India and Brazil as emerging market peers with significant upside GDP risks, suggesting potential for additional central bank easing.
Dubai Fintech Comfi Closes $65 Million Pre-Series A
Dubai-based B2B fintech Comfi closed a $65 million pre-Series A round on April 27, led by Iliad Partners with participation from Yangu and Low Ventures.
Africa, South Asia PMI Below 50; ASEAN Upside Potential
Triodos reports April PMI weakness in parts of Africa and Asia, but emphasizes East Africa and ASEAN's resource and consumption growth potential.
Sub-Saharan Africa Outgrows Asia for the First Time
According to the IMF, Sub-Saharan Africa is projected to exceed Asian growth rates in 2026 for the first time. Six of the world's 10 highest-growth economies are African nations.
MSCI EM Index Up 14.5%; AI-Driven Emerging Market Rally
Emerging market equities rose 14.5% by the MSCI EM Index standard in USD. Asian AI-driven growth has led the momentum, with South Africa spearheading the EM rebound.
XTransfer Q1 EM Inbound Cross-Border Payments Up 45%; Africa Up 115%
Asia, Africa, and Latin America accounted for 73% of XTransfer's Q1 inbound cross-border payments (YoY +45%). Africa surged 115%, Latin America 97%, and Southeast Asia 18%.
India Poised to Surpass Japan as World's 4th Largest Economy
The IMF projects India will surpass Japan in 2026 to become the world's fourth-largest economy, with 6.16% growth. Indonesia is projected at 5.0%, Brazil at 2.0%.
Microsoft and Google Expand Digital Infrastructure in Africa
Microsoft and Google are increasing digital infrastructure investment in Africa, with Africa-focused tech funds such as Norrsken22, valued at $200 million, supporting startups.
India FY27 Growth Forecast at 6.6% β Still the Fastest Growing Major Economy
EU FTA and domestic consumption remain steady, though Middle East energy shock moderates growth.
South Asia 2026 Growth at 6.3% β Down from Last Year's 7%
Energy market disruption and supply chain bottlenecks slow the entire region's growth.
Sub-Saharan Africa 2027 Growth Forecast at 4.3% Recovery
Disinflation, currency stabilization, and expanding consumption drive recovery.
Southeast Asia Digital Economy GMV at $263 Billion
Year-over-year growth of 15%; digital commerce revenue up 14% to $89 billion.
Mexico 2026 Growth Forecast Rebounds to 1.5%
US supply chain reconfiguration and USMCA renegotiation provide momentum; US exports reach $503.2 billion.
IMF Lowers Emerging Market Growth to 3.9%
Downward revision from 4.2% (January) to 3.9% (April). Inflation pressures concentrated in EM economies.
Eternal (ZomatoΒ·Blinkit) Net Profit Surges 346%
Q4 revenue +64%; Blinkit achieves first EBITDA profitability.
Sub-Saharan Africa Set for 4.3% Growth in 2027
Gold rally bolsters South African mining equities; recovery from 3.7% (2025).
Nigeria Seeks $516M Deutsche Bank Loan
President Tinubu requesting Senate approval for infrastructure financingβSokoto-Badagry highway project.
AfDB-India Fourth Summit Set for May 31
New Delhi to host discussions on digital infrastructure, industrialization, and financial cooperation.
Egypt's March Inflation Accelerates to 15.2%
Egypt's CPI, which stood at 11.9% in January, rose to 15.2% in March following fuel price increases, signaling visible economic impact from Suez Canal dependence.
Nigeria's March CPI Rises to 15.4%, Ending 11-Month Disinflation Trend
Nigeria's inflation rebounded to 15.4% in March, breaking an 11-month disinflationary streak as subsidy and exchange rate reform benefits diminish.
IMF Projects India's 2026 GDP Growth at 6.4%
The IMF forecasts India's growth at 6.4% for both 2025 and 2026, maintaining the highest growth rates globally despite a moderation from 7% levels.
East Africa Projected to Achieve 6.1% Growth in 2026
East Africa is expected to accelerate from 5.3% growth in 2025 to 6.1% in 2026, the highest growth rate on the continent.
BYD Becomes #1 in Brazil, Surpassing Volkswagen, GM, and Hyundai
BYD sold 14,911 vehicles in Brazil in April, becoming the first Chinese brand to achieve top ranking across all vehicle categories.
Africa April Funding Hits 13-Month Low of $110 Million
Deal count recovers while capital remains depressed; fintech focuses on Lucky ($23M) and MNT-Halan ($41.3M).
Egyptian Fintech INVIA Raises $1.2 Million Seed
B2B fintech funding round signals renewed momentum for Cairo startups.
India GDP Forecast at 6.4%; Blinkit EBITDA Turns Positive
Zomato subsidiary achieves first EBITDA profit; core food delivery shows recovery.
Brazilian Airfares Jump 31% from March to April
LATAM, GOL, and Azul all rise; Hormuz fuel spike drives inflation.
Sub-Saharan Africa Projected 3.7% Growth in 2026
South Africa and Egypt emerge as rate-cut candidates; bond carry appeal recovers.
Reliance FY26 revenue hits 11.7 trillion rupees; EBITDA grows 13.5%
Q4 revenue increased 12.86% to 2.986 trillion rupees; digital subscribers grew 16% and 5G users surged 40%. However, Q4 PAT declined 12.55%.
Eternal (Zomato/Blinkit) Q4: net profit soars 346%; revenue up 64%
Ultra-fast e-commerce platform Blinkit achieved its first EBITDA-positive quarter, serving as a key April driver for India's emerging market performance. The Emerging Market ETF posted 9% YTD gains through April 27.
World Bank cuts Southeast Asia 2026 growth forecast to 4.2%
Vietnam: 6.3% (down from 8% prior year); Thailand: 1.3% (down from 2.4%); Indonesia: 4.7%; Malaysia: 4.4%. Middle East energy supply shocks combined with Trump tariffs are headwinds.
ASEAN+3 projected to grow 4.0% in 2026 amid elevated external uncertainty
The ASEAN Regional Macroeconomic Surveillance Office forecasts ASEAN+3 growth of 4.0%. Southeast Asian inflation is expected to accelerate from 2.3% in 2025 to 3.2% in 2026, supported by strong domestic demand.
South Africa and Nigeria signal emerging market recovery
South Africa benefits from rising mineral prices and easing power and logistics bottlenecks. Nigeria, Ghana, and Zambia are seeing macro stabilization improvements.
EM ETF Up 9% YTD, Outpacing S&P and Russell 3000
An ETF tracking 2,983 holdings across 30 emerging markets rose 9% through April 27, surpassing broad U.S. indices.
India GDP Forecast Cut to 6.4%; Brazil Slips Below 2%
The IMF's April World Economic Outlook downgraded India from 7% to 6.4% growth and Brazil below 2%, citing electoral uncertainty.
Middle East Crisis Shaves 0.2% off African Growth
A joint AU-AfDB-UNECA-UNDP policy document (April 15) estimates the Middle East conflict could trim African growth by up to 20 basis points.
Nigeria's IMF Growth Forecast Revised to 4.1%; Egypt to 4.2%
Nigeria faces a 30-basis-point downgrade; Egypt, heavily exposed as an energy importer, is cut 50 basis points.
BofA: International Equities See 4x More Inflows Than U.S. Stocks
Soft dollar conditions, accommodative monetary policy, and infrastructure investment are redirecting capital toward EM and developed non-U.S. equities, BofA Research notes.
India and South Korea Agree to Double Bilateral Trade by 2030
President Lee and Prime Minister Modi agreed April 19 to approximately double bilateral trade by 2030, emphasizing Indo-Pacific supply-chain resilience and cooperation in shipbuilding and semiconductors.
Bank Indonesia Expected to Hold Rates at 4.75%βRupiah Down 3% Year-to-Date
A Reuters poll of 31 economists forecasts Bank Indonesia will hold its policy rate at 4.75% at its April meeting, with March CPI at 3.48% approaching the upper bound of the 1.5-3.5% target. The rupiah has depreciated roughly 3% since year-start amid capital-flight pressures.
Kenya's Diesel Price Shock Strains Fiscal Balance as 90-day Relief Enacted
With diesel prices spiking 24% to $1.60 per liter, the government moved in mid-April to suspend fuel tax for 90 days, straining fiscal equilibrium and amplifying pre-2027 election budget pressures.
Nigeria Emerges as Clear Iran-War Beneficiary; Export Revenue Rises
Al Jazeera analysis identifies Nigeria, Africa's largest crude producer, as a clear beneficiary of elevated oil prices, with export earnings climbing. East Africa's overall growth forecast stands at 5.8%, the region's 2026 high.
IMF April WEO: India Growth Moderates to 6.4% in 2026 But Remains EM Frontrunner
The IMF's April World Economic Outlook projects India's GDP growth decelerating from 7% in 2025 to 6.4% in 2026, though still commanding the emerging-market top tier. Indonesia and Brazil are both maintaining growth-friendly policy stances.
World Bank: South Asia Growth Slows to 6.3%βDown from 7%
Global energy market disruption cuts South Asia's 2026 forecast to 6.3%. While industrial policy frequency is double peers', import restrictions compound headwinds.
ECLAC: LATAM Growth at 2.1β2.2%βInvestment Languishes
ECLAC and World Bank revised LATAM to 2.1β2.2% growth. Brazil and Mexico face austerity, though Paraguay and Argentina show relative strength.
Africa Projected 4.0% GrowthβDebt at 63% of GDP
UN OSAA forecasts Africa at 4.0% in 2026. Average public debt reaches 63% of GDP, with interest absorbing 15% of revenues. About 40% of countries face debt distress.
Milken: Capital Returning to Six Southeast Asian Growth Markets
Milken's 2026 Global Opportunity Index flags Cambodia, Indonesia, Laos, Malaysia, Philippines, and Vietnam as top-tier growth destinations.
Nubank Reaches 127 Million CustomersβLATAM Digital Finance Leader
Nubank expands from Brazil into Mexico and Colombia, hitting 127 million users. EMQQ's April report highlights Nubank as emblematic of LATAM fintech strength.
IMF cuts 2026 emerging-market growth to 3.9% from January's 4.2%
Energy and currency volatility from the Iran conflict weigh on developing commodity importers. India is forecast at 6.5% for both FY2026 and FY2027.
Sub-Saharan Africa slows to 4.3% from 4.5%
The IMF's April 16 regional report warns that a 20% food price increase could push an additional 20 million into food insecurity. The Fund approved a $266 million package for Liberia.
Eternal (Zomato and Blinkit) Q4 net income surges 346%
Indian big-tech player Eternal posted Q4 net income up 346% year-over-year and revenue up 64%. Despite broader equity weakness, quick commerce remains a singular growth driver.
Africa Finance Corporation borrows $100 million from India's EXIM bank
The AFC secured $100 million from India's EXIM bank for infrastructure investment, marking a milestone in South-South cooperation.
Latin America enters gigawatt-scale data-center era amid USMCA uncertainty
Brazil crossed 1 GW of IT data-center capacity, widening its gap with Mexico and Chile. Mexico faces heightened external volatility amid Washington trade tensions.
Hungary's Magyar Tisza Party Wins Landslide, Ending OrbΓ‘n's 16-Year Rule
In April 12 elections, PΓ©ter Magyar's Tisza Party secured 141 of 199 seats with 53.6% of the vote. OrbΓ‘n's Fidesz captured just 55 seats, surrendering the supermajority needed for constitutional amendments.
IMF: Sub-Saharan Africa Set for 4.3% Growth but 5% Year-End Inflation
The IMF's Regional Economic Outlook report projects 4.3% growth for sub-Saharan Africa in 2026 but warns that Middle East shocks will drive fuel and fertilizer costs higher, pushing year-end inflation to 5%.
India Maintains Fastest Growth at 7.6%, Outpacing Peers
The World Bank reports India's FY26 GDP growth accelerated to 7.6% from FY25's 7.1%. Though FY27 growth is projected to moderate to 6.6%, India remains the fastest-growing major economy.
Latin America Slowing but Andean Bonds Find Strength
CreditSights notes that Latin America faces wage, interest, and political headwinds, but Brazil's currency and real rates have anchored Q1 emerging market bond gains. Peru and Chile are emerging as credit favorites.
Africa's FDI Surges 75% to Capture 6% of Global Flows
African FDI jumped 75% in 2024 to $97 billion, lifting the continent's share of global inflows from 4% to 6%, per IMF and OMFIF analysis.
IMF Cuts Emerging Markets Growth to 3.9% for 2026
In its April 14 World Economic Outlook, the IMF revised emerging markets growth from 4.2% (January forecast) to 3.9%. Global growth forecasted at 3.1%. The agency warns of heightened exposure to energy and currency volatility.
Indian Rupee Hits Record Low; Inflation Dominates Kerala Elections
The Indian rupee reached all-time lows following oil price spikes from the Iran conflict. In Kerala's April 9 state elections, inflation emerged as the dominant issue, surpassing unemployment and development concerns. The government warned of slowing consumer demand.
Kenya Projects 5.3% GDP Growth for 2026
Kenya's 2026 GDP growth is forecast at 5.3%, up from 4.7% in 2024, driven by agriculture, tourism, and financial services. Nigeria maintains its position as Africa's third-largest economy with projected GDP growing 30% to approximately $380 billion.
Vietnam Accelerates Role as Electronics Manufacturing Hub
Global tech giants' production shifts are complete, solidifying Vietnam's status. Despite single-party governance, the state's political flexibility in foreign investment and U.S.-China alignment provides strategic advantage. 2026 growth momentum remains solid.
Mexico's 2026 Growth Upgraded to 1.5% from 1.0%
The IMF raised Mexico's 2026 growth outlook to 1.5% from 1.0%. USMCA renegotiation approval is now visible, likely to provide additional momentum. Across Latin America, high-real-rate economies including Brazil are candidate rate-cutters.
IMF Downgrades: Emerging Markets 3.9%, Developed Economies 1.4%
On April 14, the IMF set EM growth at 3.9% and DM growth at 1.4%, widening the gap. India's FY26 forecast stands at 6.4%, Indonesia 5.1%, Vietnam 6.5%.
Nigeria's Public Debt Balloons by β¦5.98 Trillion
The Debt Management Office reported on April 14 that total debt rose from β¦153.29 trillion in September 2025 to β¦159.27 trillion (up 3.9%). Bonny Light crude soared from $70.14 to $116.84 per barrelβa 66% jumpβlifting both fiscal pressure and oil-exporting revenue.
Vietnam Welcomes 2.03M Foreign Visitors in April
Vietnam received 2.03 million foreign arrivals in April alone, bringing the four-month total to 8 million and accelerating tourism-led recovery.
Peru Holds Historic Primary Election Round
Peru conducted its most crowded presidential and congressional primary vote on April 12, marking the opening salvo of Latin America's electoral supercycle.
Vietnam Signals Closer Alignment With Chinese Governance Model
Mid-April reports noted that Vietnam is converging toward China's model, driven by centralized power under Trong Lam and expanded security apparatus influence.
ADB forecasts Vietnam 7.2%: top ASEAN growth
Indonesia at 5.2%, Philippines 4.1% as slowdown spreads. Middle East conflict spells downside risk for Southeast Asia.
IMF cuts emerging-market 2026 growth to 3.9%
Down from 4.2% in Januaryβa 30 bps haircut. India 6.4%, Brazil under 2%, sub-Saharan Africa 3.7%.
Pope Leo XIV embarks on quad-nation Africa tour: Algeria, Cameroon, Angola, Equatorial Guinea
4/13β23 schedule. First multi-country sub-Saharan Africa visit with 240 million Catholics in view.
Milei regional favorability 36.2%; Sheinbaum 69.8%
CB Global Data (4/13β18, 40,528 respondents, 18 countries): Left-wing dominance reconfirmed across LatAm.
Bangladesh BNP lands unprecedented landslide, enters consolidation phase
Sole majority in February 13 election. Government pursues dual-track diplomacy with India and China through mid-April.
Kenya: Hormuz Dependency Exposed
Pre-election fiscal strain combined with Gulf energy reliance creates 'high exposure' risk. Diesel up 24%.
Nigeria Oil Windfall Expanding Capital
Elevated crude creates breathing room for Nigerian oil majors' capital raising, lifting Africa's #3 GDP by ~30%.
India: Trade Deficit and FDI Headwinds
Prolonged Iran war threatens FY27 current account deterioration. Twelve-month net FDI inflows hit record lows near $0.5B.
Brazil: Ibovespa Breaches All-Time High
April 14 intraday, Ibovespa cleared 199,354.81, surpassing the 2008 inflation-adjusted peak of 198,950.90. YTD gain: +23.3%.
East Africa on 5.8% Growth Track
Ethiopia and Kenya, powered by renewable energy and regional integration, are projected to accelerate East Africa's 2026 growth to 5.8% (vs. 5.4% in 2025).
IMF Forecasts Ethiopia's 2026 Growth at 9.2%βAfrica's Peak
Ethiopia has emerged as Africa's fastest-growing economy in the IMF's April WEO, driven by public investment, manufacturing expansion, mining, and post-Tigray conflict macroeconomic reforms.
India Boat Capsizes on Yamuna River, Ten Dead
On April 10, a boat overturned on the Yamuna River near Mathura in Uttar Pradesh, killing over ten. Safety regulation failures drew criticism.
Indonesia Negotiates One Million Tonnes of Fertilizer Exports
Indonesia's cabinet secretariat announced April-end negotiations to export one million tonnes of fertilizer to India, the Philippines, Thailand, and Brazil, alongside a separate Australian shipment of 250,000 tonnes.
BRICS NDB Approves Record $42.9 Billion Cumulatively
Under the expanded ten-member BRICS structure (Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, UAE, Indonesia), the New Development Bank has approved 139 projects totaling $42.9 billion.
JNIM-ISSP Conflict Spreads to Nigeria and Niger
On April 4, JNIM militants attacked an ISSP-affiliated group in Nigeria's Kebbi State, killing one soldier, capturing another, and stealing 10 million naira ($7,000) plus three motorcycles. This marks the first spread of the Al-Qaeda/ISIS Sahel schism into Nigeria and Niger.
India April EV: passenger vehicles +75.14%, two-wheelers +60.73%
Tata Motors and TVS lead charge. Services PMI hits five-month highs on domestic demand and logistics expansion.
World Bank: India FY27 growth 6.6% as Middle East shocks settle
Mideast conflict energy ripples and supply chain pain reflected. FY26 pins at 7.6%, India still fastest-growing major economy.
Nigeria: Borno garrison overrun, 18 soldiers killed in joint Boko Haram-ISWAP assault
April 8-9 joint operation breaches Benisheikh stronghold. Sahel leadership battle shifts south as JNIM raids ISSP in Kebbi.
BRICS expands to 10, sets September 2026 New Delhi summit
Brazil, Russia, India, China, South Africa plus Egypt, Ethiopia, Iran, UAE, Indonesia formally admitted. 32 nations await review.
BYD tops Brazil auto market in April, 14,900 units shipped
Overtakes VW, GM, Hyundaiβfirst Chinese brand to lead Brazilian car market overall. Emerging-market EV expansion accelerates.
World Bank projects India FY27 GDP growth at 6.6%
Middle East war-driven energy prices and supply-chain disruption shaped a modestly weaker outlook; FY26 finished at 7.6%.
FTSE keeps Indonesia on secondary emerging watch
On April 8, FTSE Russell excluded Indonesia from further downgrade consideration, contrasting with January's MSCI downgrade warning.
U.S. pulls some Nigeria embassy staff
Terror and Islamist militia threats expanded travel warnings; the first Al-Qaeda/ISIS Sahel clash was reported in Niger.
Chad's 1.3 million Sudanese refugees face food cutoff
Donor funding cuts have prompted UNHCR and WFP to warn of reduced food and water supplies.
Bengaluru fintech KreditBee closes $280M Series E at $1.5B
Motilal Oswal Alternates led the round, announced April 8.
World Bank Cuts Sub-Saharan Africa Growth Forecast by 0.3%, Warns on Inflation
The World Bank cut sub-Saharan Africa's growth rate by 0.3 percentage points versus October 2025 forecasts on April 8, warning inflation will rise to 4.8%.
Nigeria and South Africa Raise Fuel Prices Amid Middle East Shock
Both countries pushed through currency adjustments and subsidy cuts, then hiked domestic fuel prices in April to absorb Middle East oil-price shock.
India Rebounds on Rate Cuts and Infrastructure Acceleration
Ashmore noted that Indian banking-sector liquidity swung from negative in early 2025 to positive, and infrastructure investment acceleration poses upside risks.
Indonesia Pursues State-Owned Enterprise Capex Expansion to Boost Private Sentiment
Analysis suggests Indonesia can improve private investment appetite by rebuilding confidence in social safety nets and state-owned enterprise spending without widening fiscal deficits.
Brazil Enters Fiscal Expansion Cycle, Large Income Tax Cuts Offset Monetary Tightening
Brazil's government offset contractionary interest rates with substantial income tax relief, entering a fiscal expansion phase.
India maintains FY27 6.6% growth forecast; resilience intact
Bank lending up 16.1%; forex reserves hit record $700.95 billion. Digital and infrastructure investment drive growth through Middle East energy shock.
Brazil upgrades 2026 outlook to 1.9% on energy net export gains
Renewable-heavy mix yields asymmetric upside to oil shock. Fiscal stress and high rates persist.
Sub-Saharan inflation bounces to 5.0% from 3.4%
Oil, fertilizer, borrowing costs all rising together. Nigeria's 2026 growth outlook cut 0.3 point to 4.1%.
BYD tops Brazil in April with 14,911 units; beats VW, GM, Hyundai
First Chinese brand to lead Brazil's monthly auto sales. EV share realignment in emerging markets accelerates.
UNCTAD: Global trade growth continues but fragility rises
Iran war, tariffs, maritime blockades sharpen geopolitical sensitivity. April report flags trade momentum vulnerability.
IMF cuts sub-Saharan Africa growth forecast to 4.3 percent
The IMF lowered 2026 sub-Saharan growth by 30 basis points to 4.3 percent due to the US-Israel-Iran conflict. UNDP warned eight nations including Ethiopia, Egypt, and Nigeria face double-digit inflation risks.
Egypt imposes 9pm weekday closing; imports Libyan crude
Cairo mandates 9pm weekday and 10pm weekend closures to control energy costs while filling Kuwait's supply gap with minimum 1 million barrels monthly Libyan crude.
ISSP claims April 3 strike killed 35 JNIM fighters in Niger
ISSP stated April 6 that it struck a JNIM position in TillabΓ©ri's PΓ©tΓ©kou village on April 3, killing 35 and seizing 38 weapons and 10 motorcycles.
BRICS Pay launches 2026 with India RBI coordinating tech
BRICS will deploy BRICS Pay in 2026 with India's RBI handling technical coordination, targeting full operations at the September 12 New Delhi summit.
Twenty-nine African currencies weaken; South African rand slides 5 percent
Twenty-nine African currencies weakened against the dollar through early April, with the South African rand depreciating 5 percent.
IMF WEO April 2026: EM growth downgraded to 3.9%
The IMF's April World Economic Outlook cut emerging-market growth from January's 4.2% to 3.9%, with global growth pegged at 3.1%. The Middle East war is driving energy and currency shocks across developing economies.
Kenya reports sixteen citizens vanished into Russian military recruitment
Kenya's government disclosed sixteen nationals missing and 38 hospitalized in Russia after Russian intermediaries dangled $2,700-per-month contracts for Ukraine deployment.
Mediterranean migrant toll nears 990 in 2026; 180+ vanish near Easter
The IOM reported April 7 that Mediterranean deaths and disappearances reached roughly 990 this year, with 180+ added in ten days. A boat from Tajoura, Libya capsized April 5, leaving some 80 missing and 32 rescued.
Nigeria: militants hit Easter churches; 31 rescued, soldiers die
Armed groups attacked ECWA and St. Augustine Catholic churches in Kaduna on April 5. Military recovered 31 hostages after firefights; casualty tolls divergedβfive military and seven local officials reported dead. Kaduna saw 170+ abducted in a single incident in January.
World Bank: India, Indonesia, Brazil stoke fiscal stimulus
The World Bank's January Global Economic Prospects flagged India's tax reform widening near-term deficits but preserving labor-reform gains. Indonesia is ramping SOE capex; Brazil is using mass income-tax cuts to offset austerity.
IMF downgrades emerging-market growth to 3.9% for 2026
The IMF's April World Economic Outlook cut 2026 emerging-market growth from 4.2% (January forecast) to 3.9%. Energy and currency volatility pose the largest tail risks.
BRICS settles at 10 full members, 10 partners
BRICS in 2026 operates as 10 full membersβBrazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, UAE, Indonesiaβplus 10 partners including Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan, and Vietnam.
India infrastructure push accelerates; bank liquidity turns positive
Ashmore emerging-markets analysis shows India's upside stems from rate cuts, infrastructure spending, and stronger bank liquidity. After running negative in early 2025, bank liquidity has swung to surplus.
5.8 magnitude quake kills 12 in Afghanistan, Pakistan
A 5.8 magnitude earthquake struck Afghanistan and Pakistan on April 3, killing 12 in Kabul and Khyber Pakhtunkhwa, with six wounded.
At least 16 Kenyans go missing on Ukraine front line
Kenya's government said at least 16 nationals recruited by Russia to fight in Ukraine have gone missing. Recruiters reportedly offered $2,700 monthly.
South Korea Q1 GDP +1.7% QoQ, semiconductor exports surge
Korea Q1 growth clocked 1.7% QoQ, highest since mid-2020, driven by AI-infrastructure chip export ramp (+5.1%).
BYD claims Brazil's April auto crownβfirst Chinese brand
BYD sold 14,911 units in April Brazil, edging Volkswagen by ~80 cars for top spot. Milestone marks first Chinese brand to lead Brazil's overall auto market; BYD global EV sales dipped 23% to 156,944.
Indonesia North Sulawesi quake topples buildings in Manado
April 2 earthquake in North Sulawesi triggers building collapse in Manado; one dead, one injured.
Seoul's Wrtn hits $100M ARR pace in AI storytelling
Wrtn Technologies' character-driven AI storytelling appsβ'Crack' (Korea), 'Kyarapu' (Japan)βtracking toward $100M annual run rate. Launches North America version 'OOC: The Playable Anime' April.
Cuba announces amnesty for 2,010 political and common prisoners
April 2: Cuba grants clemency based on conduct and health criteria; phased releases over coming months expected.
BRICS moves to 10-member status, NDB approves cumulative $42.9B across 139 projects
BRICS now comprises Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, UAE, and Indonesia as full members. The New Development Bank approved cumulative $42.9 billion across 139 projects as of April.
Indonesia negotiates 1 million tonnes of fertilizer exports to India, Philippines, Thailand, Brazil
Indonesia's cabinet secretary office said it is in talks to export 1 million tonnes of fertilizer to India, Philippines, Thailand, and Brazil.
South Africa xenophobic riots escalate; 130 Nigerians register for evacuation
About 100 protesters looted Nigerian-owned businesses in Pretoria and Yeoville. Some 130 Nigerians signed up for voluntary repatriation. President Tinubu ordered enhanced protection.
India and Brazil forge critical minerals and rare earths pact to diversify away from China
India and Brazil signed a critical minerals and rare earths cooperation agreement, stepping up supply-chain diversification away from Chinese dependence.
India, Indonesia, Brazil digitize social-safety verification using digital ID
India, Indonesia, and Brazil deployed digital identity systems to digitize enrollment and verification for national social protection programs.
South Korea-Indonesia expand cooperation across AI, defense, rare minerals, nuclear, culture
President Lee signaled expanded bilateral ties with Indonesian President Prabowo's state visit on March 31, broadening cooperation from trade to AI, digital infrastructure, defense, rare minerals, shipbuilding, nuclear, and creative industries.
India-Brazil agree to double bilateral trade to $30 billion by 2030
India and Brazil committed to doubling bilateral trade to roughly $30 billion by 2030 and expanding collaboration in rare minerals, digital infrastructure, healthcare, and supply chains.
North Korea-linked group plants malware in global open-source projects
Korean Peninsula analysts identified malware implanted in widely-used open-source code by a North Korea-linked hacking group as of March 31.
Pakistan and China launch '5-Point Peace Initiative' for Iran war
Pakistan and China unveiled a five-point ceasefire framework on March 31 centered on immediate halt to hostilities and humanitarian aid access, jointly mediating Middle East tensions.