GlobalSource Partners | Country Insights

The Novo Party is scheduled to hold its national convention today (July 27) to formally confirm Romeu Zema as its presidential nominee. On Saturday (August 1), the Republicanos party will officially endorse Tarcísio de Freitas's bid for reelection as governor of São Paulo. Four presidential polls...

High Tide

BRAZIL ECONOMICS · Report · 27 Jul 2026

Brazilian long-term real interest rates remain high, and a significant share of the recent increase originates from external factors. There is a stable long-run relationship between Brazilian and U.S. interest rates, with the latter having risen substantially since 2022. The interest rate spread ...

Economics: Mazzucato's document for implementing Plan México is unviable in the context of the current Administration's policies

MEXICO · Report · 27 Jul 2026

Last week, what appears to be a preliminary version of the report "State Transformation for Plan Mexico" was made public, prepared by Mariana Mazzucato and Lara Merling of the Institute for Innovation and Public Purpose at University College London. In principle, this presentation is intended to ...

The PL nominated Flávio Bolsonaro as its presidential candidate, the latest poll shows Lula in a tie with right-wing candidates in the second round, and the CNPS may reduce the interest rate ceiling for INSS retirees

BRAZIL POLITICS · Report · 27 Jul 2026

The Liberal Party (PL) held its national convention on Saturday (July 25), officially nominating Senator Flávio Bolsonaro (PL) as its candidate for the presidency. The event featured a strong appeal to female voters—one of Flávio Bolsonaro’s main electoral weaknesses. The Nexus/BTG Pactual presid...

Weekly report, July 27, 2026: The risk of another round of fighting with Iran will shape the outlook for inflation, rates and the budget

ISRAEL · Report · 27 Jul 2026

The past week was dominated by the escalation of the war between the United States and Iran and the increased likelihood that Israel might become directly involved. Financial markets have so far reacted in a measured manner: The shekel depreciated by around 1% against the U.S. dollar, while Israe...

Politics: Shielding allies, targeting rivals, and the politics of Mexican justice amid the erosion of the rule of law

MEXICO · Report · 27 Jul 2026

Two nearly simultaneous scandals have thrust Mexico's fractured rule of law back into the spotlight: leaked audio recordings implicating Baja California Governor Marina del Pilar Ávila in apparent negotiations with U.S. authorities, and the arrest and prosecution of former Governor Ernesto Ruffo ...

Weak domestic demand and an expected surge in infrastructure spending

CHINA FINANCIAL · Report · 27 Jul 2026

Special points to highlight in this report: * China’s trade and domestic data continue to tell the same story that it has over the past few years, that China is till struggling to boost the role of domestic consumption — and domestic demand more generally — to drive economic growth. * The...

New party, old business

TURKEY · Report · 26 Jul 2026

Ozgur Ozel and 91 comrades finally resigned from CHP, forming New Party the same day. More CHP deputies are expected to join New Party in the coming days, and the party has ample staff fired from CHP by Kilicdaroglu to complete the national organization requirements. Yet, these are mere technical...

Protected fuel prices are not coming back, PM Magyar said

HUNGARY · In Brief · 26 Jul 2026

Now that the Straits (now in plural, including Hormuz and Bab-el-Mandeb) are closed or semi-closed once again, and Brent is back up close to $100 per barrel, the potential return of protected fuel prices, i.e. the retail price caps on the two basic types of gasoline and diesel for all cars and tr...

GULF WEEKLY: Oil touches $100 as Houthis attack Saudi tankers, UAE-Saudi rapprochement, US-Saudi nuclear deal

GULF COUNTRIES · Report · 24 Jul 2026

A skimmable summary overlaid with our analysis and links. Headlines: * The war intensified, with four Americans killed and Trump renewing threats on civilian infrastructure. * Iran launched intense attacks on Kuwait, including power plants, and also hit Bahrain and Saudi Arabia. * The Houthi...

The USTR confirmed an additional 12.5% tariff on Brazil, Michelle Bolsonaro released a video accepting Flávio Bolsonaro's apology, and the PSD will formally nominate Ronaldo Caiado as its presidential candidate on Sunday

BRAZIL POLITICS · Report · 24 Jul 2026

The Office of the United States Trade Representative (USTR) yesterday confirmed the imposition of a new tariff on 60 countries alleged to have benefited commercially from products linked to forced labor. The Brazilian government criticized the U.S. decision. In an official statement, the Presiden...

TOPIC OF THE WEEK: The Kyrgyz som looks vulnerable, but the trade may be early rather than wrong

CAUCASUS / CENTRAL ASIA · Report · 24 Jul 2026

The Kyrgyz som is being held on an exceptionally tight leash. The central bank has sold almost US$1.5bn through nine interventions in 2026—already far above the full-year total for 2025—yet the USDKGS has barely moved from 87.45. At this point, the policy looks increasingly like defense of a leve...

The South African Reserve Bank holds its ground as inflation reemerges

SOUTH AFRICA · Report · 24 Jul 2026

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) announced that it is leaving the benchmark interest rate unchanged following the completion of this week’s meeting. This comes after it increased rates by 25 bps during the committee’s previous meeting in May 2026. As such, t...

Russia: a brief market watch

RUSSIA ECONOMICS · In Brief · 23 Jul 2026

Minfin has decided to delay all primary OFZ placements until “market conditions improve.” The situation might change in the second half of September, when the government is expected to present the 2027–29 budget draft, potentially easing concerns over the deficit and its inflationary impact in th...

The dominoes are falling: the Prosecutor General resigned yesterday

HUNGARY · In Brief · 23 Jul 2026 · 1 response

Gábor Bálint Nagy, Hungary's Prosecutor General resigned yesterday and will be reportedly out of office by August 25. Mr. Nagy is a key name of PM Magyar's list of the 'removables', or as he more often calls them, the 'Fidesz-puppets', those constitutionally independent, in principle politically ...