• Iran said it will resume uranium enrichment beyond limits agreed under the 2015 nuclear deal in 60 days if European signatories to the agreement fail to find a way for the country to continue to sell oil and trade with the world.
• The move comes as tensions between the country and the U.S. continue to ratchet higher after America sent an aircraft carrier strike group to the region.
• When the U.S. ended exemptions allowing countries to buy Iranian oil, it also imposed new measures aimed at effectively halting all nuclear materials trade by Iran.
• So far, European efforts to find a way of allowing Iran to continue international trade have failed to produce meaningful results. 

(Source: Bloomberg)

• Chinese media reported that the nation has full confidence it can overcome challenges in trade negotiations with the U.S. on the eve of the next round of talks in Washington.
• Attention will focus on whether the U.S. will follow through on threats to implement tariffs on Friday, whether China will retaliate, and if talks can survive such moves.
• Latest data shows that the trade war and global growth slowdown continue to take their toll on the world’s second-largest economy.
• JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon put the odds of the U.S. and China reaching a trade deal at 80%.

(Source: Bloomberg)

• Jamaica is on the path to stronger economic performance over the coming years following a reform program which is anticipated will put the country on a more sustainable growth trajectory.
• After poor economic governance led to two sovereign debt defaults since 2010, Jamaica is now closely coordinating policy with the IMF in a bid to improve its business environment, rein in government spending, diversify its economy, and reduce its external vulnerabilities.
• As a result of recent and upcoming initiatives, the forecast is that real GDP growth will average 2.0% over the next decade, compared to an average of just 0.1% over the past ten years.

(Source: Fitch Solutions)

• Jamaica's well-developed democratic institutions and broad consensus between the country's main political parties on the need for economic reform will help to maintain broad political stability over the next decade.
• However, significant domestic challenges across a number of fronts, including security concerns, joblessness, and increasing fiscal austerity will provide fertile ground for intermittent social unrest.
• In the Long-Term Political Risk Index prepared by Fitch, Jamaica scores 16th out of 26 Caribbean countries.
• The country boasts relatively high scores on the 'policy continuity' subcomponent but is weighed down by lower 'policy enforcement' and 'rule of law' scores.

 (Source: Fitch)

• The early tender deadline has been extended until 5:00 p.m., New York City time, on May 10, 2019. In addition, TPHL announced that the Expiration Date of the Exchange Offers is extended to 5:00 p.m., New York City time, on May 24, 2019, unless extended. 
• TPHL also announced that it has amended the minimum tender condition such that the consummation of the Exchange Offers is conditioned upon, among other things, the valid tender, without subsequent withdrawal, of at least U.S.$150 million aggregate principal amount of Existing Notes.
• The company also announced that, in addition to the Total Consideration, Eligible Holders who validly tender Existing Notes at or prior to the Extended Early Tender Deadline will receive an additional U.S.$10of cash for each U.S.$1,000 principal amount of 2019 Notes and 2022 Notes, respectively, accepted for exchange (the "Additional Early Tender Consideration"); provided that a minimum of U.S.$350 million 2019 Notes are validly tendered in 2019 Notes Offer.

(Source: PRNewswire)

• The Surinamese economy will grow over the coming quarters, driven by gold production. Exports and royalties derived from gold will feed through to stronger consumption and easier credit conditions.
• Fitch forecasts real GDP growth of 1.3% YoY in 2019 and 1.8% in 2020. The economy's dependency on gold and other minerals undermines Suriname's long-term growth outlook and generates substantial risks from external shocks.
• The fiscal deficit will narrow gradually over the next decade, although downside risks remain significant, particularly as the government has taken limited steps to contain spending.

(Source: Fitch)

• Despite President Donald Trump upped the pressure and Trade Representative Robert Lighthizer confirming the U.S. would increase duties on Chinese imports 12:01 a.m. on Friday, Beijing will still send trade negotiators to Washington this week.
• The delegation will be led by Vice Premier Liu He, a sign that China remains serious about finding a compromise.
• Markets are a little calmer this morning in the wake of confirmation that the talks are going ahead. International Monetary Fund Managing Director Christine Lagarde said that rumors and tweets are not favorable for finding a satisfactory resolution to the stand-off. 

(Source: Bloomberg)

• The hiatus is over and Brexit is back on the agenda. 
• Talks betweenPrime Minister Theresa May’s Conservative Party and the main opposition Labour Party are set to come to a head today as the leaders meet to sign off on a deal that will allow a way forward for the long-stalled process.
• Should the negotiations fail, the U.K. could face another referendum or a snap election.
• Adding some extra jeopardy to the mix for Mayis the chance that she could soon be facing a leadership challenge from inside her own party. 

(Source: Bloomberg)

• Fitch Solutions expect broad, orthodox policy continuity in Jamaica over the coming years.
• IMF-backed reforms, including fiscal consolidation, inflation targeting, and a more liberalized exchange rate regime, will likely outlive the September conclusion of the current Stand-By Arrangement. 
• However, security concerns will persist and public opposition will likely limit further spending cuts, restraining the pace of consolidation efforts.

 (Source: Fitch Solutions)

• Approximately $750Mn has, to date, been disbursed to 35 small and medium tourism enterprises (SMTEs), under the National Export-Import (EXIM) Bank’s revolving loan scheme.
• The businesses were selected from 51 completed applications totalling $941.1Mn that the Bank received up to November 2018, Tourism Minister, Hon. Edmund Bartlett has said.
• He was making his 2019/20 Sectoral Debate presentation in the House of Representatives on April 30.

(Source: JIS)