Jonathan Fortun

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October 6, 2026

Bloomberg Línea Mention Original title: ¿Cuánta deuda pública le corresponde a cada persona? Estos son los países con mayor deuda per cápita en Latinoamérica

How much public debt falls on each person? The Latin American countries with the highest debt per capita

Bloomberg Línea reports that US and Japanese public debt tops US$110,000 per person, using a Visual Capitalist review. Jonathan Fortun of the IIF told the outlet that debt per capita says little about fiscal risk, since it mostly reflects wealth and currency. He said sustainability depends on financing costs against growth, putting Brazil and Colombia in a weaker position than Japan, and he singled out the United States as his main worry.

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October 2, 2026

Bloomberg Línea Mention Original title: Los países con los precios de la gasolina más altos y bajos en América Latina al comenzar el cuarto trimestre de 2026

Countries with the highest and lowest gasoline prices in Latin America at the start of the fourth quarter of 2026

Bloomberg Línea reports on gasoline prices across Latin America as energy inflation and Middle East tensions keep pressure on fuel costs. Jonathan Fortun of the IIF said the region is entering a harder phase than the first half, with Brent back above US$100 and currencies weakening. He warned Brazil's gasoline could rise about 7% if a tax cut lapses, and estimated Bolivia's fuel support at 6.6% of GDP.

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September 30, 2026

El Economista Mention Original title: Menor diferencial de tasas amplifica volatilidad del peso: IIF

Narrower rate differential amplifies peso volatility: IIF

Jonathan Fortun explains that a narrower interest rate gap between Mexico and the United States has made the peso more vulnerable to global volatility by weakening the carry trade. He sees no immediate need for Banxico to raise rates, but says disorderly depreciation or inflation passing through to prices could change that assessment.

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September 28, 2026

Bloomberg Línea Mention Original title: ¿Por qué América Latina sentiría más el impacto de la posible prohibición de exportaciones de diésel de EE.UU.?

Why would Latin America feel the impact of a possible US diesel export ban the most?

In Bloomberg Línea's reporting on a possible US diesel export restriction, Jonathan Fortun of the IIF explains why Latin America has few immediate alternative suppliers. He argues that scarce cargoes would be allocated through price, leaving importers facing higher subsidy costs, rationing or negotiations for access. The pressure would differ across Mexico, Brazil and Bolivia according to their import exposure and fiscal room.

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September 22, 2026

Bloomberg Línea Mention Original title: ¿Hasta cuánto llegará la inflación en Bolivia? La eliminación del subsidio al diésel impacta las proyecciones

How high will inflation in Bolivia go? The end of the diesel subsidy affects projections

Bolivia’s removal of its diesel subsidy creates new inflation risks through transport fares, social disruption and the parallel exchange rate. Jonathan Fortun puts December 2026 annual inflation at 8% to 12% in his base case, with risks tilted upward. A rise to 20% would require a combination of higher fares, conflict and a parallel exchange rate approaching Bs16 per dollar. He argues that subsidy reform was unavoidable given depleted reserves and monetary financing, but that delaying it has made the adjustment more difficult.

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September 18, 2026

Bloomberg Línea Mention Original title: ¿Por qué cayó el yen si el Banco de Japón subió las tasas? 5 respuestas y el efecto en América Latina

Why did the yen fall if the Bank of Japan raised rates? 5 answers and the effect on Latin America

Japan’s rate increase failed to strengthen the yen. Jonathan Fortun explains how negative real rates, expectations of slower tightening and cheaper currency risk can outweigh a narrower interest rate gap with the United States. The article also examines what yen financed investments mean for Latin American currencies.

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September 16, 2026

Bloomberg Línea Quoted expert Original title: Venezuela reduce a la mitad su riesgo país en 2026: qué hay detrás de la caída

Venezuela halves its country risk in 2026: what is behind the drop

Venezuela’s falling bond spread reflects expectations of debt recovery rather than a normal borrowing cost. Jonathan Fortun explains that political developments and oil agreements have raised the value investors assign to unpaid obligations, without establishing an equivalent improvement in the government’s current payment capacity. Restructuring terms, competing creditor claims and a return to voluntary borrowing remain decisive.

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September 11, 2026

Bloomberg Línea Quoted expert Original title: Bolivia prevé eliminar los subsidios a los combustibles para 2027 tras acuerdo con el FMI

Bolivia plans to eliminate fuel subsidies by 2027 after agreement with the IMF

Bloomberg reports Bolivia’s plan to remove fuel subsidies by 2027 under a proposed IMF program. Jonathan Fortun warns that the fiscal adjustment comes before other reforms can deliver results. He highlights limits on central bank financing as a credible commitment and identifies the removal of lending rate caps and credit quotas as a major political test.

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