Southern Cone in September 2026: the most important developments in economy
In the Southern Cone in September 2026, the economic news centered on Argentina's dispute with the United Kingdom over oil exploration around the Falkland Islands, which Argentina claims and calls the Malvinas. On September 4, President Javier Milei announced sanctions on oil companies operating off the islands without Argentine authorization. On September 5 Argentina began a sanction process against 45 individuals and entities. Oil firms in the area said the sanctions would not halt their projects. By September 29, Milei threatened the United Kingdom with international legal action over the Sea Lion project, saying it must be halted within two weeks and that Argentina would go to court if London did not stop the drilling. Argentina also protested unauthorized British flights to the islands and sanctioned another foreign vessel for illegal fishing.
On the domestic economy, Milei denied on September 28 that Argentina is in recession and questioned the indicators used to measure it, after JP Morgan forecast a recession in the third quarter. Officials debated currency adjustment and a dollar surplus, and the country's risk premium rose as investors worried about the economy. The United States and Argentina launched a $7 billion infrastructure corridor on September 23.
In Chile, economic activity fell unexpectedly in July, dragged down by the mining sector. The state copper commission Cochilco said Chile should improve its copper smelters before building more. The copper price held above $14,400 as the risk of a strike grew, and Chile used artificial intelligence to improve copper production while Argentina debated mining jobs. Firms from the Falkland Islands and Chile met in Punta Arenas to expand maritime trade.
by WorldBrief & Maksim Micheliov | AI-generated summary
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