NEWS FLASH

UPCOMING WEBINAR - LATIN AMERICA IN 2026: INFLATION, POLICY AND POLITIC...

Israeli startup funding accelerates to $1.4bn in November, supporting sentiment for the shekel
ISRAEL · In Brief · 02 Dec 2025

In November 2025, Israeli startups raised approximately $1.4 billion, bringing total fundraising this year to $15 billion. Overall, in 2024, Israeli companies raised $11.6 billion, up 16.3% from $9.9 billion raised in 2023, and following $20 billion raised in 2022 and a record $34 billion raised ...

Economics: November economic news devoid of signs Mexico might see an upturn anytime soon
MEXICO · Report · 01 Dec 2025

Gross fixed investment and private consumption figures through August remain a major obstacle to any chance of an economic rebound through early 2026. At the same time, industrial activity remains on the skids, while 3Q GDP slipped two basis points. Weakness also remains apparent in services cons...

Politics: Changes at the Attorney General's Office, controversial rulings by the Supreme Court, and growing social protests
MEXICO · Report · 01 Dec 2025

A rift has appeared between Sheinbaum and newly elected Supreme Court justices perceived as favorable to the 4T. The judges’ intent was to eliminate a basic judicial principle that legal conflicts must have a definitive conclusion. Without this certainty, disputes would become endless. This woul...

The government-STF-Senate coalition is at risk and other weekly topics
BRAZIL POLITICS · Report · 01 Dec 2025

The first days of December mark the final stretch of the Legislative Branch’s agenda. Negotiations are intensifying around the Budget Guidelines Law, the 2026 Federal Budget, and revenue-raising measures. The Lower House may vote on a bill targeting persistent tax debtors. Jorge Messias, the appo...

A surprising Invamer poll rocks the political landscape
COLOMBIA · In Brief · 01 Dec 2025 · 1 response

After a long period without official polls due to a legal ban, Invamer published on Nov. 30th a surprising poll on the presidential election. The main result is a substantial jump in leftist Iván Cepeda’s vote intention, surpassing right-wing Abelardo de la Espriella, and centrist Sergio Fajardo,...

An unexpected turn of fiscal events
COLOMBIA · Report · 01 Dec 2025 · 1 response

Deterioration in the primary balance is expected to be fully compensated for by lower interest payments, so the new expected NCG deficit number for 2025 should be the same 6.7% of GDP as posted in 2024. In terms of debt, things might be somewhat improving on that end too: due to the effects of de...

CIS ESSENTIAL POLITICS: November 17-30
RUSSIA / FSU POLITICS · Report · 01 Dec 2025

- The US presents a 28-point peace plan that horrifies Europe and mildly impresses Russia. - The corruption scandal in Ukraine claims Yermak. - Azerbaijan arrests a main opposition leader. - The Kyrgyzstani election results in a total victory for Japarov. - Ukraine ta...

Q3 growth: surprisingly strong
TURKEY · Report · 01 Dec 2025

The Turkish economy expanded by 1.1%, q/q, and 3.7%, y/y, in the third quarter of the year, with the quarter-on-quarter (sequential) growth rate exceeding forecasts quite visibly, including our expectation of positive yet anemic growth in the quarter. What is more, all demand engines were ramped ...

Bad moon rising
BRAZIL ECONOMICS · Report · 01 Dec 2025

Brazil’s fiscal situation is fragile and requires deep adjustments. Although the government should meet its target in 2025, not only has the target itself lost its meaning, but—yet more importantly—the result remains far from satisfactory, with a growing primary deficit feeding the rapid expansio...

Messias’s appointment to the STF is facing strong resistance in the Senate, the Senate will resume discussions of the bill that taxes fintechs, and the rapporteur of the Anti-Faction bill should submit his report this week
BRAZIL POLITICS · Report · 01 Dec 2025

The appointment of the Attorney General, Jorge Messias, to the Supreme Federal Court (STF) is facing strong resistance in the Federal Senate. The President of the Senate, Davi Alcolumbre (União–AP), had been advocating for Senator Rodrigo Pacheco (PSD–MG) for the vacancy. The Senate’s Economic Af...

Venezuela: Between Pressure and Dialogue
VENEZUELA · Report · 01 Dec 2025

So far, the Trump administration has built a propaganda—or psyops—apparatus that raises pressure on Caracas without risking open military action. It follows the logic of Latin American soap operas: each episode ends on a cliffhanger. The question remains: what does it hope to achieve? The narr...

Rate cut and peace hopes
TURKEY · Report · 30 Nov 2025

By the urging of MHP leader Bahceli, a three-member delegation from the Peace Commission (PC) visited former PKK leader Ocalan in Imrali Island. Neither the delegation, nor the Commission, issued a statement on the exchange, but DEM Party parliamentary deputy whip Mrs Gulistan Kocyigit gave a len...

Another hurdle passed: Moody's affirmed its Baa2/Negative sovereign credit rating for Hungary
HUNGARY · In Brief · 29 Nov 2025

On Friday, November 28, Moody's affirmed its investment grade credit rating for the Hungarian government, despite fears that a negative rating decision may follow the most recent loosening up of fiscal targets for this year and 2026. There is only one rating review date still scheduled by a Top-3...

What does Yermak’s dismissal mean amid the new season of the peace deal’ series?
UKRAINE · In Brief · 29 Nov 2025

It took three weeks for President Volodymyr Zelenskiy to grasp that the dismissal of his Chief of Staff Andriy Yermak was inevitable. Zelenskiy tried to maneuver to protect his comrade, but the searches the National Anti-Corruption Bureau conducted in Yermak’s apartment became the final trigger, ...

Reform momentum and fiscal repair: South Africa’s slow shift toward stability
SOUTH AFRICA · Forecast · 28 Nov 2025

• South Africa’s growth: South African economy’s real GDP was 0.7% higher in H1-2025 than it was during the corresponding period in 2024. The uncertainty around tariffs was already weighing on the economy in the second quarter, but the full impact only materialized in the third quarter, when the ...