Southern Cone in January 2026: the most important developments in economy
The Southern Cone's economy in January 2026 was dominated by Argentina and its President Javier Milei. At the World Economic Forum in Davos on 21 January, Milei defended unregulated capitalism as the only just economic system and called on politicians to stop interfering with entrepreneurs. On 17 January he warned the European Union against restricting the Mercosur trade deal with safeguards, and on 22 January he defended Argentina's currency bands and outlined conditions for a free-floating dollar.
Argentina's government secured a $3 billion loan from international banks and repaid a US financial lifeline. It also secured high interest rates to refinance local debt, and the International Monetary Fund confirmed its support for the central bank's reserve purchases and scheduled a mission for February. Inflation slowed to an eight-year low, though prices accelerated again. Exports surged, driven by the Vaca Muerta shale field and gold.
In business news, Ternium bought the pipe maker Tubos Argentinos for $24 million, San Juan province approved a tenth investment project worth $665 million, and Mercado Libre laid off 119 employees. A shipload of Chinese electric vehicles arrived in Argentina for the first time, which Milei welcomed, and China and Chile began their first joint marine research mission along the Atacama Trench.
by WorldBrief & Maksim Micheliov | AI-generated summary
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