AGP Executive Report

Football Governance Shock: UEFA voted to boycott FIFA competitions if FIFA pushes ahead with its plan to sell minority stakes in a new “FIFA Forward Enterprise” tied to the World Cup, while CONCACAF rejected the proposal citing due-process and deadline concerns—leaving the plan in open revolt across two major regions. Argentina Immigration Crackdown: President Javier Milei signed an emergency decree allowing authorities to bar, deport, or revoke visas of foreigners accused of spreading “hate” or attacking national symbols, amid backlash after the 2026 World Cup. Colombia Politics & U.S. Ties: Coverage highlights President-elect Abelardo de la Espriella’s pro-U.S. stance and intent to deepen cooperation with Washington after a tense Petro era. Trade & Deals: Chile and South Korea agreed to restart talks to upgrade their long-stalled free trade agreement and expand cooperation on critical minerals and defense. Aviation Growth: Arajet reported 16.3% passenger growth on its Jamaica–Dominican Republic routes in early 2026, signaling continued Caribbean demand. Climate Risk: UN-linked reporting warns El Niño could drive major drought or flooding impacts, with food-inflation risks for farming regions.

Brazil–US Trade Clash: Brazil denounced the U.S. for extending emergency trade powers on “baseless” claims, keeping tariffs up to 35% on Brazilian industrial exports. Air Travel Demand: IATA said global passenger demand fell 1.7% in June as Middle East tensions and weaker domestic travel in China, the U.S. and Japan weighed on recovery. World Football Money Fight: FIFA’s plan to create a $20bn World Cup commercial subsidiary and sell minority stakes sparked backlash from UEFA and others, with a 19 September deadline and talk of possible boycott. Latin America Business: AB InBev reported 2Q26 revenue up 5.6% and beer volume growth of 1.1%, with record volumes in Mexico, Colombia and Ecuador. Mexico Industrial Expansion: Döhler opened a new Mexico plant in the State of Mexico to expand natural ingredients and plans further growth in natural colors. Peru Politics: Keiko Fujimori took office, adding to Latin America’s rightward shift. Aviation Growth in the Region: Porter secured BNDES-backed financing for up to 19 Embraer E195-E2 jets, supporting expansion across Latin America and the Caribbean.

World Football Governance: FIFA’s plan to create a $20bn World Cup commercial subsidiary and sell minority stakes to investors has triggered a fast backlash, with UEFA warning the World Cup is “not FIFA’s to sell” and discussing a potential boycott of future tournaments. Aviation & Trade: IATA data shows global air cargo demand rose 8.5% in June, but demand growth lagged in Latin America and the Caribbean, while risks include West Asia conflict and renewed US tariff focus. Peru–Gulf Business: Peru is pushing expanded exports to Kuwait—coffee, fisheries, textiles and processed foods—while also pitching deeper cooperation in energy, infrastructure, mining, logistics and digital tech. Peru Politics: Keiko Fujimori was inaugurated as Peru’s president, extending the country’s rightward shift amid a decade of political turnover. Brazil Finance: Brazil’s Treasury is leaning more on Selic-linked floating-rate debt as investors shun longer maturities, leaving public finances more exposed to rate swings. Mining (Brazil): St George Mining reported a record 207m rare-earth and niobium intercept at its Araxá project, supporting an updated resource estimate. Immigration & Security: A US deportation-linked case in Guatemala has drawn condemnation after a couple was killed following deportation, reigniting debate over mass removals.

Mining & Metals: Solis Minerals says it has boosted its South America energy-metals push with a Brazil lithium acquisition, permits for two Peru copper programs, and a new 10-hole, 2,000-metre drilling start at its Mandacaru target. Rare Earths: St George Mining reports record results at its Araxá project in Brazil, including a 207-metre rare-earths and niobium intercept from surface, as it lines up an updated resource estimate. Consumer Staples: Mondelēz posted Q2 growth led by emerging markets, with Latin America driving stronger net revenue and organic sales, while Europe softened amid weaker confidence. Corporate Finance: Electrolux beat profit expectations on core gains, but warned North America demand remains weak and tariff-related costs persist. Payments & Fintech: ACI Worldwide is partnering with dLocal to bring Latin American payment methods to global merchants, while EBANX and Pagaleve expand BNPL access to 60 million Brazilians. Sports Business: FIFA’s plan to sell World Cup stakes to private investors sparked backlash from UEFA and others over transparency and governance, with member associations facing a fast decision timeline. Politics & Economy: Peru’s Keiko Fujimori was inaugurated after a narrow election win, extending the region’s rightward tilt as Milei attends and IMF attention turns to Argentina’s next debt hurdle.

Peru Politics: Keiko Fujimori was sworn in as Peru’s president after a razor-thin runoff, extending Latin America’s rightward shift and raising hopes for stability amid crime and economic pressure. Regional Elections: Coverage also spotlights how diaspora voting can swing close races, with Peru and Colombia both seeing overseas ballots play an outsized role. U.S.-China Tech & Telecom: The Trump administration plans to spend about $176M to replace undersea cables across the Caribbean and Central America, aiming to limit China’s influence. Public Health & Pharma Access: AIDS activists at the Rio conference pushed for cheaper generic access to lenacapavir, arguing “pharma greed” is blocking Latin America from life-saving prevention. Business & Finance: State Street agreed to buy the Santander CACEIS Latam securities-services JV across Brazil, Mexico and Colombia, while Air Canada rolls out more restricted “basic” premium fares for travel across the Caribbean and Latin America. Environment & Food Security: Brazil lists tambaqui as threatened, threatening small-scale fishers’ livelihoods unless a recovery plan is adopted. Energy Trade: Brazil and South Korea set up a working group to restart Mercosur–Korea talks.

Trade & Tariffs: The Dominican Republic faces a 12.5% U.S. tariff on agriculture and free-zone exports, with Kingtom Aluminio S.R.L., a Chinese-owned aluminum extruder, flagged as a key trigger after a prior forced-labor finding. Weather Shock: “Super El Niño” risk is rising, threatening tighter commodity conditions via droughts and floods that can disrupt crops and supply chains. Payments Expansion: ACI Worldwide and dLocal team up to let global merchants plug into Brazil and Mexico’s local payment methods (including Pix and Mercado Pago) through one integration. Politics & Security: Peru’s Keiko Fujimori is sworn in, extending the region’s rightward shift tied to crime and weak growth; in Brazil, jailed ex-president Jair Bolsonaro’s campaign uses an AI avatar to reach voters. Energy & Infrastructure: The U.S. plans hundreds of millions to replace undersea telecom cables in the Caribbean and Central America to limit China’s influence. Business & Markets: Unilever shares jump after strong Q2 volume growth and upgraded guidance, while Stellantis slides after a severe downgrade. Logistics: MSC restores a direct Asia–Port Everglades container link, boosting U.S. East Coast connectivity.

Drug Enforcement & Security: A new DEA/Pentagon assessment says U.S. strikes on drug boats haven’t cut cocaine supply or purity, and traffickers are shifting tactics—bigger vessels, more coastal routes, and more aircraft from clandestine airstrips along the Colombia-Venezuela border. Trade & Diplomacy: Brazil’s Lula escalated his tariff fight in a Washington Post op-ed, calling U.S. duties a “strategic mistake” that will hurt American consumers and supply chains; separately, Lula and South Korea’s Lee agreed the S. Korea–Mercosur trade pact shouldn’t be delayed. Finance: Panama-based Bladex posted Q2 earnings of $66.5m; Millicom (Tigo) flagged its Q2 results date (Aug. 6). Business & Markets: Coca-Cola FEMSA reported Q2 performance with high-single-digit growth; OranjeBTC added 6 BTC to reach 3,918 BTC. Policy & Society: UN experts urged Indigenous rights safeguards as AI expands, while Nicaragua marked July 26 with a major commemoration. Health & Tech: AstraZeneca said its CLDN18.2 ADC Sone-Ve improved overall survival in late-line gastric/GEJ cancer.

El Niño Food Shock: Reuters warns a “super El Niño” risk is rising, threatening harvests and food prices across emerging markets—Latin America included—just as central banks may have less room to cut rates. Energy & Infrastructure: IDB approved $204.2m for Bolivia to connect isolated power systems to Brazil’s grid and expand solar plus battery storage, aiming to cut diesel use in remote Amazon communities. Renewables Pipeline: Meridian Energy got consent for a 110 MW solar farm near Morrinsville, with up to 200 GWh yearly output and future storage options. Regional Trade & Integration: Mercosur launched a photo and video contest on “Border Integration,” offering up to $500 for stories from border regions in Paraguay, Argentina, Bolivia, Brazil and Uruguay. Business Expansion: Creatio announced its “Unlimited” event series is heading to Europe and Latin America, focusing on agentic AI for enterprise workflows. Tech & Connectivity: Google’s new Atlantic cable Nuvem links the U.S. to Portugal, boosting Portugal’s role as a digital gateway for AI and cloud investment. Labor Market Pressure: In the U.S., employers are bracing as TPS work permits are set to end for hundreds of thousands of people, including many from El Salvador and Haiti.

Honduras Justice Crisis: Former President Juan Orlando Hernández returned after Trump’s pardon, but he still faces fraud and money-laundering charges in Honduras on Aug. 3, reigniting protests over judicial independence and perceived impunity. Brazil-Argentina Diplomatic Fallout: Brazil recalled its ambassador to Argentina after Javier Milei’s insults at a São Paulo rally, escalating already frosty ties as Lula seeks re-election. Brazil-US Trade Tensions: Lula condemned new U.S. tariffs as “unfair” and politically driven, arguing trade barriers are reshaping markets and pointing to Brazil’s growing trade with China and the EU. Venezuela Earthquake Recovery: Engineers have inspected over 8,000 buildings since the June 24 twin quake, with more than 70% deemed habitable as reconstruction and safety guidance continue. Regional Business & Supply Chains: South Korea’s Lee Jae Myung arrived in Brazil for a summit and business roundtable to deepen trade and investment, including talks on resuming Mercosur free-trade negotiations. Healthcare & Markets: Baker Hughes reported strong Q2 results, while ResMed shares hit their lowest valuation in a decade amid worries about GLP-1 drugs’ impact on sleep apnea demand.

Brazil–U.S. Election Tension: Brazil denied visas to two senior Trump administration officials who planned to question the integrity of the Oct. 4 election, escalating diplomatic friction ahead of the Lula vs. Flávio Bolsonaro race. Brazil Politics: Flávio Bolsonaro was formally nominated by Brazil’s Liberal Party as its presidential candidate, setting up a high-stakes faceoff with incumbent Luiz Inácio Lula da Silva. Venezuela Legal Push: Venezuelan men allegedly sent to El Salvador’s notorious terrorism prison by the Trump administration have filed a lawsuit against the U.S. aviation firms involved in the rendition flights. AI Governance: China’s Xi Jinping called for stronger global cooperation on AI governance at the WAIC in Shanghai, pushing for fair rules that address security, ethics, and the digital divide. Sports & Business: Cape Verde goalkeeper Vozinha, a World Cup breakout star, is set to join Chile’s Colo Colo on an 18-month deal, turning tournament fame into a major club move. Regional Trade: The Philippines and Chile concluded talks on their first free trade agreement with a Latin American country, covering tariffs plus trade, investment, and the digital economy.

Brazil Politics: Brazil’s Liberal Party has formally nominated Flávio Bolsonaro for the October presidential race, setting him up against incumbent Luiz Inácio Lula da Silva as the campaign heats up amid legal and political turbulence. US-Brazil Electoral Tensions: Brazil denied visas to two Trump administration officials reportedly seeking to question Brazil’s election integrity, with Brazilian officials citing attempts to undermine the electoral system. Venezuela Earthquake Recovery: More than a month after the twin quakes, Venezuela’s recovery remains a race against time and funding gaps, with thousands dead and tens of thousands displaced; engineers have inspected thousands of structures in Caracas to assess habitability. Cybersecurity & Critical Infrastructure: A regional push is underway to strengthen cyber defenses for utilities and grid systems, warning that weak protections can hurt business confidence. Panama Anti-Illicit Mining: Authorities arrested six people over illegal gold extraction in the Río María Prieto area, as enforcement targets environmental and organized-crime spillovers. Caribbean Human Trafficking Crackdown: Trinidad and Tobago’s Counter Trafficking Unit detained suspects after a major operation, including a Defence Force member, targeting alleged exploitation networks. Sports Business: Cape Verde goalkeeper Vozinha has signed with Chile’s Colo Colo after World Cup breakout performances. Trade & Finance: The Philippines concluded its first Latin America free trade deal with Chile, while Indonesia’s debut Panda Bond issuance signals growing Asia-China capital market links.

Latin America Trade & Tariffs: Brazil is bracing for the latest U.S. tariff wave, with analysts warning the 25% hike could hit billions in sales and push exporters to diversify toward China and the EU. Global Policy Pressure: The U.S. also rolled out forced-labor tariffs affecting 60 trading partners, drawing pushback from governments including Australia and New Zealand. Brazil Animal Welfare & Food Industry: President Lula signed a nationwide foie gras ban, targeting force-feeding practices and setting a six-month transition before criminal penalties—expected to hit mainly imports from France. Colombia Politics & Labor Market: Former adult performer Amaranta Hank was sworn in as a senator under Gustavo Petro’s Historic Pact, spotlighting debates over legal recognition for sex work. Sports Business: Chile’s Colo Colo signed Cape Verde goalkeeper Vozinha after his World Cup breakout, a reminder of how tournaments can quickly reshape club rosters and brand value. Health Tech Market Signals: New market reports project continued growth in medical devices and AI-enabled diagnostics, from angiography systems to AI microscopy and post-operative monitoring patches.

US Tariffs Hit Latin America: Washington’s new forced-labor-linked duties of 10%–12.5% start rolling out across the region, with governments including Argentina, Brazil, Ecuador, Mexico and Trinidad & Tobago reacting as competitive conditions shift. Panama Exclusion: Panama says it’s been left out of the latest tariff package, calling it “positive news” for trade ties with the U.S. Venezuela Earthquake Cost: The World Bank estimates the June 24 quakes caused about $19.6B in direct damage, with housing the biggest share of destruction. Latin America Hiring Boom: U.S. firms’ Latin America placements rose 31% in the first half of 2026 and 67% year-on-year, led by sales and finance roles, with Brazil topping placements. Payments Push: Arival Bank launches USDC/USDT treasury and payment rails across multiple chains, targeting cross-border demand with low conversion fees. Cyber Resilience: Trinidad and Tobago joins the LAC4 cyber competence centre to bolster protection for critical infrastructure. Aviation Connectivity: Air Peace and Etihad sign an interline deal to expand one-ticket connections across West Africa and the Middle East.

UN Leadership Race: Six candidates, including Chile’s Michelle Bachelet and Argentina’s Rafael Grossi, faced a televised UN town hall ahead of the formal selection process, as they try to restore credibility in a crisis-hit organization. Argentina-Brazil Politics: President Javier Milei is set to back Senator Flavio Bolsonaro’s bid in Brazil, aiming to energize right-wing momentum after months of scandal and internal strain. Venezuela Connectivity: Cirion says it restored Venezuela’s main submarine fiber cable within 29 days after June earthquakes severed it, reopening international communications. Venezuela Earthquake Costs: The World Bank estimates damage from the quakes at about $19.6 billion, adding pressure on recovery financing. Digital Finance for LatAm: Cosmos Labs and Peersyst signed an MOU with LNET to explore CBDC and tokenized-asset interoperability across Latin America under an IDB Lab-funded project. Trade & Tariffs Shock: New US forced-labor tariffs on 60 partners take effect, with rates from 10% to 12.5%, raising uncertainty for major economies tied to US supply chains. Energy Transition Deals: Greenvolt agreed to sell a 57.47 MWp solar park in Hungary, with an option for co-located battery storage, signaling continued renewables investment flows. Regional Trade Links: Taiwan’s Latin America trade office expanded in Taipei to cover six allies, aiming to boost business matchmaking and investment. Drug Trafficking Crackdowns: Liberia seized nearly four tons of cocaine worth over $317 million, arresting two foreign suspects and pointing to a long-running network.

UN Leadership Race: Six candidates for UN secretary-general held a televised town hall, including Chile’s Michelle Bachelet and Costa Rica’s Rebeca Grynspan, as the selection process starts amid a deep institutional crisis. Green Minerals Reality Check: A new AI-and-satellite study mapping 70,000 mines warns the “green energy” mineral rush is driving major forest loss and biodiversity harm. Venezuela Earthquake Costs: The World Bank estimates June’s quakes caused about $19.6bn in physical damage, with residential buildings hit hardest, raising pressure for faster reconstruction funding. Mexico Security & Finance: The U.S. Treasury sanctioned more than 50 people and entities tied to CJNG, targeting leadership and money-laundering networks. Trade Policy Shock: The U.S. announced new forced-labor tariffs on 60 trading partners (10%–12.5%), replacing an expiring duty and adding uncertainty for regional exporters. Brazil Rare Earths Push: Brazil is emerging as a key rare-earths supplier as the U.S. seeks alternatives to China’s dominance. Colombia Gold Scrutiny: A gold-bar seizure case is still under investigation a year later, spotlighting tougher checks on legal sourcing and possible links to illegal mining. Digital Infrastructure: Trinidad and Tobago is exploring a dedicated AI data centre to build regional digital competitiveness. Tourism & Retail Moves: Chipotle opened its first Mexico store and plans more expansion; COS is also signaling growth in the U.S. and Mexico.

Fintech & Banking: German payments startup Augustus raised $180M to build a de novo U.S. bank, aiming to give international clients direct access to U.S. dollar clearing rails and reduce reliance on intermediary partners. Wealth Distribution: A market explainer argues private-market growth is being held back by distribution mechanics, not fund design—highlighting how platforms can make or break adoption. Insurance Costs: Marsh says global insurance premiums fell 6% in Q2 2026, with Latin America and the Caribbean down 9%, as competition and capital improve. Retail Finance: FirstCash posted record Q2 results, with pawn demand driving a 58% jump in GAAP EPS and a 40% rise in adjusted EPS, plus a new $150M share repurchase plan. Trade & Jobs (Paraguay): Maquila exports rose 25% to $717M in H1 2026, adding 1,923 jobs, led by auto parts, clothing, and chemicals. Venezuela Legal Risk: A U.S. judge set June 1, 2027 for Nicolás Maduro and Cilia Flores’ drug-trafficking trial, with the defense expected to argue sovereign immunity. UN Leadership: Six candidates for UN secretary-general will debate on July 23, including Chile’s Michelle Bachelet and Argentina’s Rafael Grossi. Environment & Supply Chains (Brazil): Experts warn Brazil’s low Amazon deforestation may not last, as the end of the Amazon Soy Moratorium could raise future clearing. Identity Tech (LATAM-relevant): Jumio reported strong Q2 growth as it expands global digital ID acceptance and continuous risk analysis. Media & Streaming (Mexico): Disney+ Mexico tapped Telemundo’s Juan Ponce as VP of original content to boost local productions.