Latin America Weekly: Colombia’s fiscal drama, no TACO for Mexico this week

We doubt that the Colombian government will manage to assuage investors’ concerns about the country's public finances when it publishes its fiscal plans next Friday. Elsewhere, the political wrangling in Brazil over tax increases has detracted from the bigger picture that the budget position has improved over the past year. But the build-up to next year’s election will be a key test of officials’ commitment to fiscal consolidation. Finally, Mexico is the most exposed economy in the region to the higher US tariffs on steel and aluminium that came into force this week. And unlike in 2018, it's not clear that a swift carve-out for Mexico is on the cards.