Brazil & Southern Cone - September 2026

REGION | Chile, Argentina, Bolivia, and Peru team up on strategic minerals. On 28 August, the governments of Chile, Argentina, Bolivia, and Peru signed a joint declaration on strategic minerals. The statement was signed following a meeting in Santiago between Chile’s economy and mining minister, Daniel Mas; Argentina’s mining secretary, Luis Lucero; Bolivia’s deputy minister of mining policy, regulation, and oversight, Walter Landívar; and Peru’s energy and mining minister, Guillermo Shinno. In the joint statement, the ministers pledged to “promote sustainable development, technical cooperation, and responsible investment in strategic minerals”. Mas described the declaration as “the first firm step toward a lasting alliance”, stating the aim was to “position the Southern Cone as the most reliable, sustainable, and competitive supplier of strategic minerals”, highlighting the importance of strategic minerals “in an era where the energy transition and advances in artificial intelligence will demand between 400% and 600% more critical minerals over the next decade”. The ministers committed to exploring opportunities for cooperation among the mining agencies of each country and to seeking technical and financial support from multilateral organisations.

CHILE | IMF approves credit line for Chile. On 26 August the International Monetary Fund (IMF) approved a two-year arrangement for Chile, under its flexible credit line (FCL), providing US$11.8bn. According to an IMF statement, this is Chile’s fourth FCL arrangement since 2020 and access to the credit line has been gradually lowered. The statement cites the IMF’s deputy managing director and acting chair, Kenji Okamura, as praising Chilean authorities for implementing “very strong policies to maintain macroeconomic balance and enhance the economy’s resilience”. He added that the FCL will “continue to provide a valuable buffer against tail risks and a signal of Chile’s policy and institutional strengths”.

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

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