Republic of South Africa
Economic growth picked up moderately in 2025, to 1.1%, favoured by improved electricity supplies, the recovery of private consumption and increased confidence following the formation of the National Unity Government in 2024.
Arab Republic of Egypt
The policies implemented since 2024 within the framework of the IMF’s Extended Fund Facility (EFF) have contributed to macroeconomic stabilisation, thanks to greater exchange rate flexibility, monetary and fiscal tightening, and the recovery of foreign currency inflows. …
Climate change and international tourist loyalty: new evidence for Spain
We analyse how tourists react to episodes of extreme heat in order to anticipate risks and opportunities for the tourism sector in the face of climate change, using anonymised internal data from foreign card payments on CaixaBank POS terminals.
The reopening of Hormuz supports markets despite monetary tightening
The provisional agreement between the US and Iran reached mid-month, which extended the military truce and allowed the gradual reopening of the Strait of Hormuz, triggered one of the sharpest drops in oil prices in recent years. This led to a significant decline in…
