It's a mistake to internationalize it, the terms are usually used in the American context.

Black usually means the descendant of slaves. When Obama was starting his political career there was some debate in the Black community about if he really counted as Black, since he didn't really have much contact with the Black community until his 20s and his history is quite different.

White typically means descendants of various waves of settlers with limited ties to any specific European country. Generally they can trace their lineage to a mix of early and later arrivals. With a strong bias towards northern Europe.

Hispanic generally meant Mexican, Cuban, or Puerto Rican. Which were fairly geographically distinct communities in the 90s so one word for all three didn't cause much confusion.