While growth deceleration causes concerns, Peru remains more appealing than other IG stories (i.e., Panama). Authorities seek to boost activity in a convoluted backdrop where political noise is hurting long-term growth. Repayment capacity is still st...

Central bank increased its policy rate by 25bps as expected to 7.25%, its 16th consecutive rate increase. It brings the cumulative increase to date to 700bps since the bank's post-Covid tightening cycle began in August 2021. Forward guidance unchange...

The IEA's latest outlook argues that targeted Renewables adoption has accelerated as a result of the Russia-Ukraine War. In our view, risks to Renewables targets are insufficient global coordination, financial capital and political mandates. In EM eq...

Central bank increased its policy rate by 25bps as expected to 7%, its 15th consecutive rate increase. It brings the cumulative increase to date to 675bps since the bank's post-Covid tightening cycle began in August 2021. Slight change in statement's...

USD is expensive but its continued appreciation is a major headwind for local currency assets in emerging markets. There's some protection in EMs where the REER is below the historical average and the real interest rate is positive. Brazil exhibits b...

The BCRP increases its policy rate again but this time by a lower-than-expected 25bps, to 6.75%. It's the 14th consecutive rate increase in this cycle, but the 25bps move ends the pattern of 12 consecutive 50bps hikes. The decision comes after the re...