Southern Cone in March 2026: the most important developments in economy
Argentina's push for foreign investment dominated the Southern Cone economy in March 2026. Economy Minister Luis Caputo presented the government's economic recovery plan to investors in New York, a Wall Street bank issued a new investor guide for the country, and the United States stated that President Javier Milei's policies are the right ones for investment. Later in the month Caputo ruled out taking on new debt and acknowledged a setback in the fight against inflation. Interest rates fell sharply while the government stockpiled dollars. The IMF said Argentina was weathering the effects of global conflicts well but warned of risks from tightening global financial conditions. Reports said phone evidence linked Milei's government to the Libra cryptocurrency project.
Corporate deals and investment plans made up the second theme. Mercado Libre said it will invest $3.4 billion and hire 1,900 people in Argentina, Danone and Arcor completed their acquisition of the country's largest dairy company, and Nissan neared a deal to sell its local operations to Argentine investors. A major Argentine firm announced a $2.4 billion investment plan for the Vaca Muerta shale formation, and McEwen Copper planned a $300 million IPO to finance its Los Azules project. The state energy firm YPF defended partial fuel price increases, citing a global surge in oil prices, and a US court suspended a key lawsuit against YPF pending an appeal.
In Chile, mining and critical minerals were the focus under the new government of President Kast. BHP announced a $5 billion upgrade to its Escondida copper mine, Freeport-McMoRan sought an environmental permit for a $7.5 billion mine expansion, and Albemarle began the permit process for a $3.1 billion lithium project. The United States approached Chile to secure critical minerals supplies, while Chile's mining association warned that a proposed fuel tax threatens the industry's competitiveness. Paraguay ratified the European Union-Mercosur trade agreement.
by WorldBrief & Maksim Micheliov | AI-generated summary
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