GlobalSource Partners | Country Insights

The USD/RUB continued to slide in recent weeks, having surpassed the 87 mark and moving closer to 88. Generally the FX market entered a period of correction that followed months of an unhealthy appreciation of the currency amid increased oil prices and their high volatility The recent ruble depre...

New evidence from the Vorcaro case was presented by the Federal Police, the opposition filed impeachment requests against Justice Moraes, and the Joint Committee may vote on the so-called “blouse tax”

BRAZIL POLITICS · Report · 02 Sep 2026

Supreme Federal Court (STF) Justice André Mendonça, who is overseeing the investigations into fraud involving Banco Master, suggested in a decision released on Tuesday (September 1) that new evidence presented by the Federal Police (PF) in the case be reviewed by the full Court. Mendonça lifted t...

Fiscal predicament even worse than expected

COLOMBIA · Report · 02 Sep 2026 · 1 response

Finance Minister Miguel Gómez’s presentation of the 2027 budget has brought Colombia’s fiscal predicament into sharper focus. The budget confirms that the fiscal situation inherited from the Gustavo Petro administration was significantly worse than previously acknowledged. The NCG deficit is now ...

Seeking security!

CHILE · Report · 02 Sep 2026

Q2 national accounts reinforced the loss of momentum in activity so far in 2026. Both total and non-mining GDP remained broadly stagnant in H1. We have therefore revised our 2026 GDP growth forecast down to 0.5%. Nonetheless, we remain relatively optimistic about 2027. High copper prices conti...

Most recent forint weakening is entirely due to external factors

HUNGARY · In Brief · 02 Sep 2026

The forint's weakening against EUR and USD, seen so far this week, does not really point in the direction of another base rate cut in September. But it is important to know that it can be traced back entirely to external factors, such as Russia/Ukraine, the Middle East, global energy prices and a...

From refineries to airspace: Russia's war enters a new phase of escalation

UKRAINE · In Brief · 02 Sep 2026

The war is clearly entering a new phase of escalation. Widely discussed and widely expected, it is now unfolding in real time. Zelenskiy's statement on September 1 that Russian airspace will effectively be closing marks a new level of pressure on Moscow and St Petersburg — one that the Russian le...

Bank of Israel cuts rates to 3.25% in a somewhat unexpected move

ISRAEL · In Brief · 02 Sep 2026

The Bank of Israel cut its policy rate by 25bp to 3.25%, its third consecutive rate cut. The decision was somewhat surprising. As we noted ahead of the meeting, when the decision when the decision is not clear-cut, the Bank of Israel has generally tended to err on the side of caution. This time, ...

Essential CIS Politics: August 19 - September 1, 2026

CIS POLITICS · Report · 01 Sep 2026

Key stories: * Russia advanced about 200 square kilometers overall, but a Ukrainian counterattack near Slavyansk rolled back the northern flank. * Ukraine steps up forced mobilization: the Army still needs at least 30,000 recruits a month. * Ukrainian drones set fire to Ozon warehous...

Reality knocks at the door

BRAZIL ECONOMICS · Report · 01 Sep 2026

GDP grew 0.5% in the second quarter, well below the figure recorded in the first quarter of 2026, although slightly better than the average forecast of 0.4%, suggesting an economic slowdown, a theme to which we had drawn attention in our most recent reports. In recent quarters, the economy has...

The government 2027-2029 economic outlook and budget plan suggests steady GDP growth in the years ahead

KAZAKHSTAN · In Brief · 01 Sep 2026

The Kazakh government has released its macroeconomic forecast for 2027-2029, along with aggregate republican budget figures and some data tied to the consolidated budget. Overall, the outlook seems reasonable, though the baseline scenario may be a bit optimistic, projecting steady GDP growth of 5...

The TSE suspended presidential candidate Renan Santos’s campaign, candidate Augusto Cury rose significantly in the polls, and Justice Toffoli was criticized for his decision against Renan Santos

BRAZIL POLITICS · Report · 01 Sep 2026

Two new developments yesterday shook up the presidential race. The first was the surprising rise of Augusto Cury (Avante) in voting-intention polls. Cury gained 6.2 percentage points in the AtlasIntel poll, reaching 7.8%. In the Nexus/BTG poll, the Avante candidate climbed nine points to 11%. The...

Weekly report, August 31, 2026: BoI rate decision tomorrow, politics approaches the candidate-list deadline, and some loss of economic momentum

ISRAEL · Report · 31 Aug 2026

The Bank of Israel will announce its interest-rate decision tomorrow. The decision appears finely balanced, although our view remains that the Bank is more likely to wait rather than cut rates. The August CPI is forecast to rise by a relatively high 0.8%, followed by a 0.2% decline in September. ...

Peru: Fujimori to face her first political challenge

PERU · In Brief · 31 Aug 2026

Last Friday, the Fujimori government approved at its Cabinet meeting the delegated legislative faculties request from Congress and the 2027 budget. Both have to be approved by Congress' lower house, where Fujimori's political party, Fuerza Popular (FP), has a minority. According to the latest est...

Electoral considerations drive the Lula-Alcolumbre alliance and other weekly topics

BRAZIL POLITICS · Report · 31 Aug 2026

Congress will hold a concentrated legislative session this week. The agenda includes several bills and proposals of interest to the government: the elimination of the “small-package tax,” the end of the 6-on/1-off work schedule, critical minerals policy, Redata, and the Public Security Constituti...

Synthesis of the Brazilian Economy

BRAZIL ECONOMICS · Report · 31 Aug 2026

WHAT HAUNTS LULA IS THE DREAM OVER? - Just over one month before the election, the undefined picture is beginning to take shape, albeit still incipiently. Lula, whose government rejection rate is similar to its approval rate, is moving farther away from a fourth term; his best chance would be ...