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DR votes, Lula intervenes, Argentine officials cheer

Dominicans are set to re-elect President Luis Abinader on Sunday and there's widespread hope among investors that his second term will see further measures to improve the public finances. Elsewhere, developments in Brazil over the past week point to an increasingly interventionist stance from the Lula administration in the economy. Finally, in Argentina, the fall in monthly inflation to single digits in April is good news at first sight. But worryingly, this has been achieved, at least in part, by delaying the full exchange rate adjustment that the economy needs. The longer the can is kicked down the road, the more painful an eventual devaluation will be.

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