Brazil & Southern Cone - April 2026

When Fernando Haddad took on the job of Brazil’s finance minister in January 2023, the former university professor and leftist intellectual was greeted with widespread scepticism. Over three years later, after stepping down to prepare his bid for the governorship of São Paulo, Haddad leaves a mixed legacy, one that reflects the complex political realities that he operated in. This April edition of the Latin American Regional Report: Brazil & Southern Cone begins with an analysis of Haddad’s major achievements and struggles during his time as the finance minister of Latin America’s largest economy, as well as the challenges that his successor Dario Durigan is expected to face this year.

The next piece looks at the trial of the masterminds who ordered the assassination in 2018 of Rio de Janeiro councillor Marielle Franco (2017-2018). The high-profile murder case concluded with the conviction of former lawmakers João Francisco ‘Chiquinho’ Brazão and Domingos Brazão and their accomplices. The convictions have been hailed as a landmark victory against impunity and provide a sense of closure to a case that has become an international symbol of the struggles faced by social activists in Brazil.

Moving onto Chile, the following piece analyses the foreign policy challenges that President José Antonio Kast is expected to face, especially regarding his ability to handle relations with China, highlighted by a controversy that emerged in January-March this year over a proposed project to install an undersea fibre-optic cable linking Chile to Hong Kong.

The next article focuses on a controversial pension reform in Paraguay pushed by the government of President Santiago Peña. The reform of the Caja Fiscal, the public sector retirement and pension fund, represents the most significant overhaul of the Paraguayan social security framework in decades. It came after months of intense debate within congress and amid fierce union opposition. Still focusing on Paraguay, the next piece looks at efforts by the Peña administration to ramp up its militarised response to organised crime.

Moving onto neighbouring Argentina, the following article considers the struggles of the country’s industrial sector under the economic ‘shock therapy’ of President Javier Milei. The final article in this edition looks at security concerns in Uruguay, where the government of President Yamandú Orsi has announced a new public security plan. This comes as violence linked to criminal gangs and drug trafficking is among the top concerns of the public, with homicide figures remaining high despite a slight decline in 2025.