China’s National People’s Congress approved new security legislation for Hong Kong. NPC’s proposal may have been China’s way to pre-empt US interference in Hong Kong, given the recent escalation in anti-Chinese rhetoric by the US Administration and a long line of attacks on Chinese interests in recent times. Argentina unveiled a new debt restructuring offer. The Association of Banks in Lebanon proposed a debt re-profiling without a principal haircut. Colombia cut the policy rate by 50bps to 2.75%. Brazil’s current account balance posted the highest monthly surplus since 1995. Thailand’s balance of payments posted a large surplus driven by capital repatriation. The IMF approved sizeable precautionary flexible credit lines to Peru and Chile. El Salvador’s finance minister urged parliament to approve the disbursement of USD 1.1bn in IFI loans. Costa Rica’s finance minister resigned calling for tighter fiscal rules.