Research Team

Only foreign investments recorded net inflows in Q2. FDI inflows reflect foreign companies investing in subsidiaries as well as a large transaction in petrochemical sector. Portfolio investment outflow is driven by residents' acquisition of foreign a...

Parliament should decide today on motion's debate and vote date. Opposition PSD submits own motion today, probably to have new excuse not to back USR-Plus motion. PSD's motion to be presented next week and voted 3 days after presentation. PSD and USR...

NNPC stopped publishing under-recovery costs in its monthly reports. As crude oil prices rose in 2021, petrol landing costs surged to NGN 250/litre in July. However, Nigeria kept pump prices steady at NGN 162/litre, meaning NNPC is subsidizing petrol...

Deficit exceeds 5.7% target as result of revenue underperformance. Expenditures are under-executed but not enough to revenue impact. Primary deficit reaches1.9% of GDP, exceeding target too.

Nationalization is an option if negotiations are not fruitful, PM Bellido said. President Castillo and minister Merino say good faith leads negotiations. Renegotiating profits is puzzling while expropriation would cost USD 30bn, local experts say.

Oil deficit growths to USD 2.5bn but non-oil deficit falls to USD 1.4bn, the lowest since January. Exports' y/y growth slows, automotive exports fall 11.8% y/y. Imports maintain solid momentum but slow down too.