Latin America Economics & Strategy Daily: USTR Decision, Colombia Energy Minister, Peru Fiscal, BCRA USD Purchase

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Latin America Economics & Strategy Daily: USTR Decision, Colombia Energy Minister, Peru Fiscal, BCRA USD Purchase

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14 Jul 2026 09:39:00 ET │ 19 pages

Latin America Economics & Strategy

Daily

USTR Decision, Colombia Energy Minister, Peru Fiscal, BCRA USD

Purchase Ernesto Revilla AC

+1-212-816-2621

ernesto.revilla@citi.com

CITI'S TAKE

Luis E Costa, CFA AC

Today we discuss developments in Brazil, Colombia, Peru, Argentina, +44-20-7986-9757

Uruguay, and Dominican Republic. luis.costa@citi.com

Regional Macro — Busy day today for global markets, with big US banks reporting Esteban Tamayo AC

2Q26 earnings, US June CPI data to be released, and Chair Warsh due to speak to esteban.tamayo@citi.com

Congress (Bloomberg, July 14). In the region, Argentina will report June inflation AC Leonardo Portodata, with consensus expecting it to rise slightly from the previous month

(Bloomberg, July 14). leonardo.porto@citi.com

Paulo Lopes ACLatAm Strategy Trades — We went long BRL against EUR and AUD as the current

macroeconomic backdrop still suggests resilience for high real-yielding EM (link). paulo.lopes@citi.com

We are holding on to our vol adjusted (structurally long USD) long MXN, BRL, and AC Thais Ortega

TRY vs CAD, CHF, and THB to capture high yielders carry (link).

thais.ortega@citi.com

Brazil — USTR decision over tariffs on Brazilian products might be announced AC Felipe Juncal

tomorrow.

felipe.juncal@citi.com

Colombia — President-elect Abelardo de la Espriella appointed María Nohemí AC Donato Guarino

Arboleda, the current head of XM, as his incoming Minister of Mines and Energy,

donato.guarino@citi.comreinforcing a technocratic approach to a sector facing mounting reliability and

supply challenges. Ricardo Raul Dessy AC