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EM inflation in April declined to the lowest levels since 2002
Weekly investor research
11 May 2020
Index-weighted CPI inflation declined to the lowest level in nearly two decades. Argentina postponed the deadline for debt restructuring. China’s exports improved and Huawei received the green light to operate in the US. Brazil’s central bank cut the policy rate by more than expected. Nigeria slashed fuel subsidies to zero and pledged that fuel prices will be driven by market forces going forward. The Central Bank of Peru made provisions to smooth pension fund redemptions. GDP growth slowed faster than expected in Indonesia and the Philippines. Colombia increased fiscal support to smooth the coronavirus impact on growth. Saudi Arabia announced it will cut public employee benefits and hike VAT to consolidate the fiscal accounts. Sub-Saharan African PMI’s declined by less than in the rest of the World.