Key Facts

—The warning. Oxford Economics names Brazil, Mexico and Colombia among the economies facing the hardest fiscal adjustment.

—The study. It ranks 46 economies by a single gauge of debt sustainability, the debt-stabilising primary balance.

—The category. Mexico and Colombia sit in a “prolonged fiscal attrition” group needing sustained large surpluses.

—The trend. All three need bigger adjustments now than they did before the pandemic.