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Further progress in Ecuador economic reforms and Argentina debt renegotiation.
Weekly investor research
26 May 2020
Ecuador implemented further economic reforms. China withdrew its GDP growth target, but increased the fiscal deficit. Argentina postponed the deadline for debt renegotiations to 02 June. Indonesia kept policy rate unchanged. Zambia formally requested debt the cancellation of undisbursed commercial debts. The US Supreme Court ruled against Venezuela’s appeal to retain control of Citgo. The state of Sao Paulo moved forward public holidays to encourage greater social distancing. The United Nations Economic Commission for Africa (UNECA) said African countries should fulfil its obligations with commercial credit to keep market access.