Brazil & Southern Cone - June 2026

BRAZIL | IMF hails resilience of economy. The International Monetary Fund (IMF) released a statement on 1 June conveying the preliminary findings from an Article IV visit to Brazil, carried out from 18-29 May. The IMF highlighted that the Brazilian economy has remained “remarkably resilient in the face of multiple shocks”. The statement noted that Brazil is “relatively cushioned” from global oil price increases resulting from the conflict in the Middle East by “its status as a net oil exporter and the high share of electricity from renewable sources”. Regarding growth prospects, the IMF expects that Brazil’s economic growth will strengthen gradually to 2.5% over the medium term, while noting that growth slowed in 2025 and that the risks to the growth outlook, at least in the short term, are “tilted to the downside” due to the “further deterioration of geopolitical tensions and tighter financial conditions”. However, the IMF also highlighted “Brazil’s strong policy frameworks, sound financial system, adequate reserves, and flexible exchange rates” which continue to “support resilience”.

ARGENTINA | Government announces more investments under Rigi. Economy Minister Luis Caputo announced on 4 June that the committee for the government’s incentive for large investments scheme (Rigi) has approved two new projects. The first is for the San Matías pipeline and comprises a total investment of US$1.3bn to transport 27m cubic metres of natural gas per day from Neuquén province to the San Matías Gulf in neighbouring Río Negro province, in northern Patagonia. The pipeline is 100% dedicated to liquid natural gas (LNG) exports for a project run by Argentina’s Southern Energy (Sesa), which was included in the Rigi last year, and will enable exports worth US$2.5bn per year, according to Caputo. The other project is the second phase of the Sal de Oro lithium project in Salta and Catamarca provinces in the northwest of Argentina. This project is being developed by the South Korean company Posco and comprises a total investment of US$547m to produce 23,000 tonnes (t) per year of lithium carbonate, equating to exports of over US$300m per year.

Brazil & Southern Cone: inflation rate
Percentage variation (year-on-year)

Brazil & Southern Cone: GDP growth (%)
Quarterly figures are year-on-year growth