OGResearch

What OGResearch does

OGResearch, s.r.o. is a Prague-based private economic research and advisory firm founded in 2006 by David Vávra, an ex-IMF economist, to deliver macroeconomic forecasting, yield curve construction, and capacity-building services to central banks, international financial institutions, and corporates operating in developing and emerging markets. The firm's core products are Bespoke Yield Curves — model-based curves built from sparse market data for local currency pricing, collateral management, and risk transfer — and Exchange Rate Forecasts & Risk Rating, supported by proprietary DSGE modeling frameworks and two web-based platforms: the Macro Portal for country-level macroeconomic forecasts and the Yield Curves Portal (YCM) for yield curve analytics. Service delivery spans Tailored Advice on monetary and exchange rate policy design, and Capacity Building programs for central bank staff.

The firm generates revenue through project-based professional services engagements, typically funded by international donors (SECO, MEFMI, EU programs) or directly by institutional clients. The client base includes multilateral institutions (IMF, EBRD, IFC, OECD, European Commission, Eurasian Development Bank), specialized entities (TCX), commercial banks (Erste Group, ProCredit), and central banks in Georgia, Saudi Arabia, Turkey, Brunei, Ukraine, Morocco, and Serbia, with stated country expertise covering approximately 90% of world GDP and active forecasting/pricing systems in 20+ emerging and developing economies. Operations run from four offices (Prague headquarters, Budapest, Brno, and Belgrade) with a team of 11-50 that includes former senior officials from the IMF, Czech National Bank, National Bank of Hungary, and Bank of Russia. Go-to-market is sales-led, relying on long-term institutional relationships, donor-funded technical assistance pipelines, and thought leadership via working papers, conferences, and a monthly newsletter.

Name

OGResearch

Legal name

OGResearch, s.r.o.

Website

https://ogresearch.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

OGResearch is a Prague-based economic research and advisory firm that builds yield curves, delivers macroeconomic forecasts, and provides monetary policy advisory to central banks, international financial institutions, and corporates across developing and emerging markets.

Ownership category

akta.pro rank

Product category

Macroeconomic Advisory and Financial Research Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Finance Services (6199)

akta.pro industry

PRIMARYFSAFAIAF

Pricing & Valuation Services (Fixed Income, OTC, Derivatives)

Financial & Insurance/Financial Exchanges & Market Infrastructure/Market Data, Indices & Benchmark Administrators

SECONDARYFSACAEAE

Emerging Markets Debt Trading (Hard & Local Currency)

Financial & Insurance/Capital Markets & Securities/Fixed Income, Rates & Credit Trading

Keywords

• Macroeconomic forecasting
• Yield curve construction
• Central bank advisory
• Monetary policy consulting
• Emerging market analysis

Headquarters

HQ city

Prague

HQ country

Czechia

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Consulting and Advisory Services: Professional services revenue from advising central banks, IFIs, and corporates on monetary policy, yield curves, exchange rate risk, and macroeconomic analysis. Engagements include capacity building, technical assistance, and bespoke consulting projects.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

OGResearch builds proprietary yield curves for pricing local currency instruments in developing and emerging markets, delivers macroeconomic forecasts and exchange rate risk ratings, and advises central banks, IFIs, and corporate clients on monetary and exchange rate policy design. The firm also runs capacity building programs and provides ongoing model-driven access through its Macro Portal and YCM (Yield Curves Portal) platforms.

Product overview

OGResearch offers a suite of specialized financial advisory and analytical services for central banks, international financial institutions, and corporates. The core offerings include Bespoke Yield Curves for pricing and risk management, Exchange Rate Forecasts & Risk Rating for currency analysis, Tailored Advice for policy design, and Capacity Building for institutional development. These services are supported by two web-based platforms: the Macro Portal for macroeconomic forecasts and the Yield Curves Portal (YCM) for yield curve analytics. The company operates forecasting and pricing systems for 20+ emerging and developing economies, covering 90% of world GDP.

Differentiator

Problem solved

Functional benefit

Brands

• Macro Portal: Web-based macroeconomic forecasting portal providing country-level economic analysis and forecasts
• YCM (Yield Curves Portal)

Products and services

• Bespoke Yield Curves Custom-developed yield curve models used for pricing of local currency instruments, T-bills, T-bonds, exchange rate risk hedging, interest rate risk management, portfolio and collateral valuations, and transfer pricing. Designed for central banks, development finance institutions, and commercial banks operating in shallow, data-poor markets.
• Exchange Rate Forecasts & Risk Rating Analysis of macroeconomic and financial sector risks, macroeconomic research and forecasts, and modeling tools and software for exchange rate prediction. Targets central banks and institutional investors needing currency risk views in frontier and data-poor markets.
• Tailored Advice Expert advisory on monetary and exchange rate policy design, fixed-to-float exchange rate transitions, money market operations, money market development, policy evaluation, and fiscal sustainability. Delivered to central banks and IFIs through project-based engagements.
• Capacity Building Professional development programs covering macroeconomic analysis, modeling and forecasting, monetary operations and liquidity forecasting, and communications. Aimed at central bank staff and institutional clients of OGResearch.
• Macro Portal Web-based platform providing country-level macroeconomic forecasts, including GDP, inflation, exchange rates, and other economic indicators for emerging and developing markets. Delivered as a subscription-style service to institutional clients.
• Yield Curves Portal (YCM) Web-based portal for accessing yield curve data and analytics for developing and emerging markets, supporting ongoing client access to pricing and risk curves built by OGResearch.

Quantifiable outcome

• Yield curves enable pricing of local currency products and building loan portfolios on tenors not otherwise possible in shallow financial markets
• +2 more outcomes

Named customers18 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and major.

• SECO (Swiss State Secretariat for Economic Affairs)coreStrategic or Co-development Partner · 1 January 2025SECO funds the Macroeconomic Planning and Management Project (MPMP) under which OGResearch provides technical assistance to support macroeconomic forecasting frameworks in partner countries (e.g., Uzbekistan, Tajikistan).
• MEFMI (Macroeconomic & Financial Management Institute of Eastern and Southern Africa)coreStrategic or Co-development Partner · 1 January 2025MEFMI organizes and funds training programs and technical assistance missions delivered by OGResearch consultants to central banks in Eastern and Southern Africa (e.g., Bank of Tanzania, Reserve Bank of Zimbabwe, Central Bank of Eswatini, Bank of Mozambique).
• Qatar Central BankmajorImplementation/ SI/ Consulting Partner · 1 January 2025OGResearch supported Qatar Central Bank in executing its first market auction of local currency government bonds and sukuk under the new Primary Dealer Framework, with Managing Partner David Vavra and Head of Division Karel Bauer providing direct assistance.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Oxford Economics: Economic forecasting and advisory firm offering macroeconomic models, country risk research, and consulting, directly comparable to OGResearch in providing model-based macro forecasts and bespoke advisory to institutional clients.
• Capital Economics: Independent economic research and forecasting firm serving institutional clients with macro and country-level analysis, the closest direct peer in business model (subscription research plus bespoke consulting) though with broader DM and EM coverage.
• Haver Analytics: Provider of macroeconomic and financial databases plus custom analytics to central banks and institutional clients; comparable to OGResearch in delivering EM macro data infrastructure and bespoke analytical platforms.

Broad incumbents

• Wood Mackenzie: Global research and consultancy focused on energy and natural resources with adjacent macroeconomic and country-risk capabilities; comparable to OGResearch as a subscription-and-consulting research business serving institutional clients.
• Moody's Analytics: Provides macroeconomic forecasts, yield curve and credit analytics, and stress-testing models used by central banks and banks; overlaps with OGResearch's macro-prudential, yield curve, and credit risk stress-testing offerings at much larger scale.
• S&P Global Market Intelligence: Provides macroeconomic data, country risk, fixed income analytics and sovereign credit research used by central banks, banks and asset managers; comparable to OGResearch in macro and fixed income analytics but at vastly larger scale.
• Economist Intelligence Unit (EIU): The EIU provides macroeconomic and country risk research globally, including EM coverage, with a much larger scale and broader product portfolio (the Economist, EIU Views, Country Risk Service) overlapping with OGResearch's macro and FX forecasting work.
• Bloomberg Intelligence: Provides macroeconomic and fixed income research across global markets including EM, with comparable analytical depth in FX and rates research but distributed primarily to Bloomberg terminal subscribers at much larger scale.

Others

• DTCC (Depository Trust & Clearing Corporation): Financial market infrastructure provider offering fixed income clearing, data, and analytics used by central banks and dealers; adjacent to OGResearch's yield curve and fixed income pricing work via shared end-customers and analytics infrastructure.

Emerging players

• Frontclear: Development-finance-backed advisory firm focused on money market and local currency capital market development in frontier markets; directly comparable niche to OGResearch's money market and yield curve mandate work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/ogrbudapest
• LinkedInlinkedin.com/company/ogresearch

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OGResearch