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Bloomberg Línea · Quoted expert ESOriginal title: ¿Cómo pasó Bolivia de controlar la inflación a tener una de las más altas de Latinoamérica?

¿Cómo pasó Bolivia de controlar la inflación a tener una de las más altas de Latinoamérica?

Fortun relates Bolivia's rising inflation to longstanding economic imbalances rather than a single external shock.

Newsweek Japan (Reuters) · Quoted expert JAOriginal title: 新興国市場、3月の純流出額171億ドル　1年7カ月ぶりの大きさ＝ＩＩＦ

新興国市場、3月の純流出額171億ドル　1年7カ月ぶりの大きさ＝ＩＩＦ

Fortun discusses subdued risk appetite amid higher global interest rates and policy uncertainty following emerging-market portfolio outflows.

IIF Capital Flows Tracker: April 2025

Jonathan Fortun / Institute of International Finance

March brought $17.1 billion in net portfolio outflows from emerging markets according to the April tracker. Equity withdrawals accounted for most of the retreat, with debt also losing funds. China drove the largest share of the reversal, while debt flows to other emerging markets remained only slightly positive.

Global Macro Views: The Dollar Paradox: How to Lose a Currency War While Winning It

Marcello Estevão · Jonathan Fortun / Institute of International Finance

Efforts to weaken the dollar confront the enduring appeal of US assets. This analysis links persistent fiscal deficits, foreign investment and currency strength, arguing that tariffs can redirect trade without resolving the overall external imbalance. Currency intervention alone cannot address a problem rooted partly in fiscal policy and global demand for Treasuries.

Special Report: Liberation Day: A New Tariff Framework Arrived!

Marcello Estevão · Jonathan Fortun / Institute of International Finance

The April 2, 2025 tariff announcement marks a major change in US trade policy. This initial assessment examines a universal 10 percent tariff combined with additional country rates and a broad policy reach. Falling equity futures, rising gold and currency repricing illustrate how markets immediately responded to greater expected trade friction.

Bloomberg Línea · Quoted expert ESOriginal title: Cómo funciona el “dólar tarjeta” en Bolivia ante cambios de Asfi y escasez de divisas

Cómo funciona el “dólar tarjeta” en Bolivia ante cambios de Asfi y escasez de divisas

Fortun explains the pricing mechanism for Bolivia's card-dollar rate and its role in managing foreign-currency scarcity.

Global Macro Views: Full Metal Budget: Europe’s Military Spending Blitz

Marcello Estevão · Jonathan Fortun / Institute of International Finance

Europe’s defense spending ambitions create different fiscal challenges across its largest economies. Germany expands military and infrastructure investment, while France and Italy face heavier debt constraints. Spain has more flexibility but competing social priorities. The March 2025 analysis examines how additional borrowing could raise financing costs and test fiscal stability.

Bolivia’s Macroeconomic Freefall, Part III: Fiscal Space and the Fury Ahead

Fortun argues that losses at state enterprises deepen Bolivia’s fiscal financing gap, while declining gas exports, scarce reserves and informality limit its adjustment options. He contrasts these constraints with Argentina’s and examines the political obstacles to fiscal reform.