South America

Analysis of political economy, macroeconomic trends, and institutional developments across South American markets.

  • Executive Summary

    Brazilโ€™s fiscal trajectory remains one of the central macroeconomic issues shaping investor sentiment in South America. While fiscal deficits remain elevated, ongoing policy reforms aimed at improving revenue collection and controlling public expenditure could gradually stabilize public debt dynamics. The credibility of fiscal institutions and adherence to fiscal rules will remain key determinants of market…