Argentina

Jan. 15 (UPI) — U.S. philanthropist Gilbert Butler has emerged as a major private donor shaping conservation policy in Latin America by financing the purchase and then donating six islands in Uruguay and Argentina to create the first binational park on the Uruguay River.

Butler donated the islands of Chala, Inga and Pinguino to the Uruguayan state. The islands lie on the river in Rio Negro department, an administrative division similar to a county.

Together, the three islands cover 1,270 acres and were incorporated into Uruguay’s National System of Protected Areas, known by its Spanish acronym SNAP, according to statements from the Presidency of Uruguay and the Ministry of Environment.

Uruguayan authorities described the donation as unprecedented, marking the first time the country has added land to SNAP through a direct donation of property purchased by a private person for conservation purposes.

“Nothing like this has been seen for decades,” President Yamandu Orsi said Thursday during the ceremony accepting the islands.

According to Uruguayan officials, at least two of the islands include basic public-use infrastructure, such as docks, shelters and restrooms designed for low-impact ecotourism and environmental education.

The project aims to promote restorative economies and strengthen local communities under a model based on conservation and ecological connectivity.

The Uruguay initiative is linked to a project already underway in Argentina. On the Argentine side of the river, Butler previously acquired the islands of Dolores, San Genaro and Campichuelo in Entre Rios province. Together they span about 6,425 acres and are slated to be donated to creates a provincial nature park.

Provincial authorities plan to add about 3,459 acres of public land to that core area, bringing the total protected surface to about 9,884 acres. All six islands are part of the same cross-border conservation scheme.

In a speech, Butler said his goal is to create a binational park, contending that using the land solely for eucalyptus and soybean plantations “is an ecological disaster.”

The six islands make up the project known as Green Islands and Channels of the Uruguay River, which seeks to establish a continuous transboundary ecological corridor along one of the Southern Cone’s most important freshwater basins.

The initiative focuses on protecting wetlands, riverine biodiversity and ecological connectivity, while supporting sustainable tourism.

The donation has reopened public debate in Uruguay over the ownership of river islands.

Under current regulations and legal analyses reported locally, river islands are registered parcels that may be publicly or privately owned regardless of the owner’s nationality and may be incorporated into the protected areas system even if they were previously private.

Records and local media reports show the donated islands had been privately owned since the 1990s after being transferred as part of the settlement of a commercial debt.

Previous attempts at productive use failed because of recurring floods linked to the river’s hydrological cycle.

Local authorities in Rio Negro and Entre Rios said the binational project presents coordination challenges, but agreed it could position the Uruguay River region as a regional example for shared environmental conservation.

Jan. 15 (UPI) — Argentina’s government designated branches of the Muslim Brotherhood in Egypt, Lebanon and Jordan as terrorist organizations, the office of President Javier Milei said.

The designation is based on official reports documenting transnational illicit activities, including acts of terrorism, public calls for violent extremism, links to other terrorist organizations and their potential impact on Argentina, according to the statement.

The decision Wednesday came one day after U.S. President Donald Trump‘s administration took the same step.

According to Washington, while the movement claims to have abandoned violence, its affiliates in Egypt, Jordan and Lebanon continue to promote and support terrorist activities, including backing groups such as Hamas.

U.S. officials said those structures have inspired, financed and facilitated actions by organizations considered a direct threat to the security of the United States and its allies, and that the designations aim to curb their operational and financial capacity.

Argentina’s official statement said the decision was adopted through coordination among the ministries of Foreign Affairs and National Security and Justice, as well as the Intelligence Secretariat, within the framework of Argentina’s international commitments to combat terrorism and its financing.

“With this measure, mechanisms for the prevention, early detection and punishment of terrorism and those who finance it are strengthened, so that members of the Muslim Brotherhood and their allies cannot operate freely,” the government said.

Milei’s administration added these Islamist groups to the Public Registry of Persons and Entities Linked to Acts of Terrorism and Its Financing, known by its Spanish acronym RePET.

RePET is an official registry that allows authorities to identify and apply legal and financial restrictions on individuals and entities linked to terrorist activities, including asset freezes and limits on operating within the financial system.

In its statement, Argentina’s presidency underscored Milei’s “unwavering commitment” to “recognizing terrorists for what they are,” and recalled that his government had already designated Hamas and Cartel de los Soles as terrorist organizations.

The Muslim Brotherhood has also been designated a terrorist organization by countries such as Egypt and Saudi Arabia, while Jordan banned the group in April last year.

Latin American financial assets have emerged among the best-performing markets worldwide at the start of 2026, driven by an unusual alignment of positive political catalysts, strong commodity prices, and renewed global appetite for emerging markets.

Equities and currencies across the region have sharply outpaced developed markets, reversing several years of relative underperformance.

The shift in sentiment has been triggered by a sequence of closely timed developments.

A sustained upswing in commodity prices — particularly industrial and precious metals — has strengthened the outlook for South America’s export-driven economies.

And while the full consequences of the recent US seizure of Venezuela’s Nicolás Maduro have yet to play out, some investors view the ousting as positive. A number hope the move will reduce geopolitical tail risks long associated with the region.

Adding to the momentum, the announcement of the EU–Mercosur trade agreement revived expectations of deeper trade integration between Europe and Latin America, even as doubts remain over its full implementation.

Global macro conditions have also played a decisive role. Major investment banks, including Bank of America and AllianceBernstein, indicate that a weaker US dollar in 2026 is boosting the appeal of emerging market assets.

Historically, periods of dollar weakness have coincided with strong emerging market performance, as capital shifts toward countries where returns are higher.

Countries most exposed to metals markets have been the primary beneficiaries. Chile and Peru — key producers of copper, silver and gold — have enjoyed substantial windfall gains from the metals rally.

Chile, the world’s largest copper exporter, shipped 14.9 million tonnes of the metal in 2024, according to ITC Trade Map data.

Latin America shines among top-performing global markets

Performance data compiled by CountryETFTracker show that five Latin American countries now rank among the world’s ten best-performing equity markets over the past three months.

Chilean stocks are up 36.6% since mid-October, making them the best-performing investable equity market globally via exchange-traded funds. Simultaneously, the Chilean peso has appreciated more than 8% over the past two months, reflecting improved terms of trade and renewed portfolio inflows.

Argentina has been another standout, with a 27.45% rally in equity markets since October. Investors have responded positively to the liberalisation reforms introduced by President Javier Milei, who took office in December 2023.

The International Monetary Fund, in its latest Regional Economic Outlook, credited the Milei administration with enacting “an ambitious package of market-oriented reforms” targeting productivity, regulatory simplification, and fiscal sustainability.

The IMF noted that, if sustained, these reforms could yield substantial medium-term gains by opening Argentina’s economy and improving investor confidence. That’s despite the fact that such austerity forms were particularly unpopular with the general public when first announced, triggering protests in Argentina.

Beyond Chile and Argentina, Peru has posted equity gains of around 27%, with the Peruvian sol now trading at its strongest level relative to the dollar in over five years.

Elsewhere, equities in Colombia rose about 16%, and Brazil has rounded out the regional leaders with a 12.9% rally.

By contrast, the US S&P 500 has gained just 4.8% over the same period, while Germany’s DAX is up around 5%, underscoring Latin America’s marked relative outperformance.

EU–Mercosur agreement signals strategic shift for Latin America

The long-awaited EU–Mercosur trade agreement, more than two decades in the making, is set to be formally signed on 17 January in Paraguay, marking a turning point in relations between Europe and South America.

For the founding members of the Mercosur bloc — Argentina, Brazil, Paraguay and Uruguay — the accord represents their first major trade agreement with an external partner, opening preferential access to a market of nearly 450 million EU consumers.

“The approval of the EU–Mercosur trade agreement is a landmark moment, creating the largest free trade area in the world by population,” Ángel Talavera, head of European macro at Oxford Economics, said in a note.

Combined, the EU and Mercosur economies account for around a quarter of global GDP and roughly 780 million people.

For Latin American markets, experts say the significance goes beyond improved agricultural access to Europe. The agreement is expected to lower tariff and non-tariff barriers on industrial inputs, particularly benefitting manufacturing-heavy economies such as Brazil and Argentina by reducing costs, improving competitiveness and strengthening supply-chain integration.

According to a study by Banco Santander, the deal is poised to transform trade and investment flows across South America. The EU already accounts for close to €370bn in foreign direct investment into Mercosur and over €125bn in annual trade.

Brazil’s Institute for Applied Economic Research expects the deal could lift Brazil’s GDP by around 0.5 percentage points and raise investment by 1.5 percentage points annually, reflecting stronger export prospects and increased foreign direct investment.

Estimates from Real Instituto Elcano and the Bank of Spain suggest EU–Latin America trade could expand by up to 70% over time, while intra-regional trade within Latin America could rise by as much as 40%.

A turning point for Latin America?

Latin America’s recent strong performance in global financial markets seems to reflect more than just cyclical tailwinds.

Rising commodity prices, easing geopolitical risks, and a weaker US dollar have all helped draw global investors back to the region after years of underperformance.

At the same time, reform momentum in countries such as Argentina and renewed trade links with Europe have improved perceptions of policy stability and long-term growth potential.

While challenges remain and many of the economic benefits will take time to materialise, markets are increasingly viewing Latin America as a relative bright spot among emerging economies.

For now, the region’s combination of high returns, improving fundamentals, and strategic relevance in global trade is proving hard for investors to ignore.

Venezuelan officials say US air strikes killed at least 40 people, destroyed parts of the capital and violated their national sovereignty with the abduction of President Nicolas Maduro. Venezuelans are divided between fear of ongoing US intervention and celebrating his removal.

BUENOS AIRES, Jan. 2 (UPI) — Argentina’s government has enacted the so-called Fiscal Innocence Law, which changes tax evasion thresholds and seeks to encourage declaring and depositing undeclared U.S. dollar savings, commonly known locally as “dollars under the mattress,” into the formal financial system.

Official data show Argentines held about $254 billion outside the banking system as of September, slightly below the $256.5 billion reported at the end of 2023.

The phenomenon reflects decades of mistrust in the financial system after repeated economic crises, bank account freezes and successive currency devaluations. Under previous administrations, the volume of undeclared dollars grew sharply amid restrictions on access to the official foreign exchange market.

The initiative is part of President Javier Milei’s economic agenda. It aims to bring undeclared savings back into the formal economy, broaden the tax base and support economic activity.

The law introduces two main changes.

First, it seeks to protect taxpayers by shifting the legal standard from “guilty until proven innocent” to “innocent until proven guilty.”

Second, it simplifies the tax system by sharply raising the thresholds for pursuing tax evasion, which had not been updated for years. Simple tax evasion will now be investigated starting at $100,000, up from about $1,500, while aggravated tax evasion will apply from $1 million, compared with a previous threshold of about $15,000.

The reform also shortens the statute of limitations for tax crimes from five years to three. Taxpayers who receive a notice of irregularities will be able to normalize their situation by paying what they owe without facing criminal penalties.

The government stressed that the measure is not a tax amnesty, as individuals still must pay taxes owed on previously undeclared income.

“This law is probably one of the most important in Argentina’s recent history,” said Manuel Adorni, the government’s chief spokesman, during a press briefing. He said the reform overturns a legal paradigm in place for more than a century.

“Instead of being treated as suspects, all citizens are presumed innocent until the courts prove otherwise,” Adorni said.

He added that bringing these funds into the formal system could boost investment and deepen capital markets.

Private sector credit in Argentina currently amounts to about 9% of gross domestic product, well below the regional average, which ranges between 60% and 120%. The new law, Adorni said, creates an opportunity to channel savings into investment projects.

Economist Elena Alonso, co-founder and chief executive of Emerald Capital Global, told UPI the reform represents a profound shift in the relationship between the state and taxpayers.

“The core idea is to stop treating everyone as a suspect by default and move to a system where people are considered compliant unless the tax authority proves otherwise,” Alonso said.

Previously, she said, the system placed the burden on taxpayers to prove they had done nothing wrong even in the absence of evidence.

“This does not mean taxes will go unpaid or debts will be forgiven,” Alonso said. “It simply means wrongdoing must be proven first and only then can the state make a claim.”

She said the change would lead to more targeted requests for clarification, focused on proven cases rather than minor or formal errors.

For citizens, Alonso said, the benefits include greater predictability, less fear of administrative mistakes and a more balanced relationship with the state. “That also encourages compliance because the system feels fairer,” she said.

A British travel expert has shared the location of what she believes to be the most beautiful place on Earth, advising others of five things to know before planning a visit to the breathtaking scenery

Following her visit to what she hailed as the “most beautiful place on Earth”, a travel expert has compiled a list of five essential pointers for anyone wanting to experience this breathtaking destination themselves. Emma Ansley Knight turned to TikTok after returning from the Brazil-Argentina border in South America, describing her journey as “such a bucket list moment”.

“Literally felt a tear come down my face when I stood over the Devil’s Throat waterfall for the first time,” she added. “Just amazing how powerful nature can be.” She went on to explain that the Brazilian side of her destination offers roughly a 1.5km walk with “beautiful panoramic views” of the cascades, which she suggests tackling first.

“Someone said that from the Brazilian side you can see the falls, and from the Argentinian side you can feel the falls, which I thought was a great way of describing it,” Emma said. The Argentinian side is quite different, however, featuring multiple walking routes and providing more of a “full day experience”, she added.

Her destination? Iguazu Falls. Also referred to as Iguaçu Falls, it sits on the Iguazu River and forms part of the world’s largest waterfall network.

“If you want to see the falls at their absolute fullest, you are best off going in the rainy season, which is roughly between November and March,” Emma advised.

“We went in December and just before that it had rained so much that the flow of the falls was five times higher than usual.”

She went on to describe the Devil’s Throat, the most impressive cascade at Iguazu Falls. “You can see the water thundering down it from the Brazilian side,” she said.

“And on the Argentinian side, you can head along a walkway and stand pretty much right at the top of it – and wow, what an experience that was.”

Regarding accommodation options, Emma outlined several choices. “On the Brazil side, you have Foz do Iguaçu, which is where we stayed. And on the Argentina side there’s Puerto Iguazu – and if your budget allows, you can even stay in the National Park itself.”

Emma concluded by reminding visitors that crossing from one side of the falls to the other requires passing through border control, meaning you must make sure you have your passport with you.

Iguazu National Park achieved UNESCO World Heritage Site status in 1986 due to its exceptional natural splendour. Its website advises: “The semicircular waterfall at the heart of this site is some 80m high and 2,700m in diameter and is situated on a basaltic line spanning the border between Argentina and Brazil.

“Made up of many cascades producing vast sprays of water, it is one of the most spectacular waterfalls in the world. The surrounding subtropical rainforest has over 2,000 species of vascular plants and is home to the typical wildlife of the region: tapirs, giant anteaters, howler monkeys, ocelots, jaguars and caymans.”

To get to the destination from Brazil, you can catch a flight from either Sao Paulo or Rio de Janeiro to the local airport, Aeropuerto Internacional de Foz do Iguaçu. The journey from Rio takes roughly two hours, while flights from Sao Paulo shave off about 15 minutes.

Alternatively, if you’re travelling from Buenos Aires in Argentina, you can fly directly to the Aeropuerto Internacional de Puerto Iguazu. This flight is slightly quicker, clocking in at around one hour and 50 minutes.

BUENOS AIRES, Dec. 26 (UPI) — Argentine President Javier Milei’s government is promoting a reform that seeks to redefine the role of the state in public education, curb direct government intervention and give families greater control over their children’s schooling.

A proposed law would legalize homeschooling, expand school choice and grant parents a more active role in school governance, including mechanisms to influence the appointment or removal of principals.

The stated goal is to introduce greater competition among educational institutions to attract students. The initiative has been submitted to Congress, and debate could begin in March.

The reform focuses primarily on basic education, which includes preschool, primary and secondary levels, while also introducing changes to the university financing system.

If approved, it would fully replace the current National Education Law in force since 2006.

“Argentina faces a deep educational crisis, as shown by our students’ results in national and international assessments,” a report by the Ministry of Deregulation and the Secretariat of Education said.

Internationally, PISA tests, which measure skills in math, reading and science, show stagnation or a sustained decline in the performance of Argentine students.

“Compared with other countries in the region, Argentina consistently ranks among the worst performers,” the report said.

Domestically, national assessments show that more than 80% of students in their final year of secondary school fail to reach satisfactory levels in math, while more than 40% have difficulties with reading comprehension.

The official diagnosis also describes the system as overly centralized and bureaucratic, with little room for pedagogical innovation and oversight mechanisms considered weak and lacking transparency.

“The family is the natural and primary agent of education; civil society is the space where it develops through various institutions and projects; and the state has the obligation to guarantee access, continuity and completion of studies at all levels,” the draft law says.

At the secondary level, reform would promote agreements between schools, companies and the productive sector to improve general education and vocational guidance.

Basic education also would be declared an essential service, requiring a minimum level of classes.

The bill recognizes multiple teaching modalities, including in-person, hybrid, community-based, home-based and distance learning, all subject to supervision and evaluation under national and local standards.

Julio Alonso, an academic at the University of Buenos Aires, told UPI the education reform is part of a broader package of changes pushed by the government.

“It is not an isolated measure. It is linked to labor and tax reforms,” he said.

According to Alonso, the central change lies in redefining the role of the state relative to that of families.

“The state takes on a subsidiary role. It guarantees access, but the main decisions fall to parents. The family is formally established as the central actor in the education system,” he said.

Another key point, he said, is the abandonment of a unified national curriculum. Provinces and the country’s capital would assume full responsibility for education, while the federal government would be limited to setting common minimum content.

“The idea of a national education project is left behind. In practice, responsibilities are further delegated to provincial governments,” Alonso said.

He added that the initiative also decentralizes education financing by eliminating the legal spending floor equivalent to 6% of gross domestic product.

“Under this reform, provinces would cover costs with their own resources, while the national government would concentrate spending on direct transfers to families,” he said.

A third pillar of the proposal concerns teachers, with greater family participation in evaluation processes, though not in hiring decisions.

Alonso warned, however, that the reform faces political and social obstacles. The ruling coalition lacks a majority in Congress and depends on support from provincial lawmakers — a weakness recently seen during the budget debate.

On the social front, Alonso anticipates strong resistance, particularly over cuts to the university system, with possible strikes and protests.

BUENOS AIRES, Dec. 19 (UPI) — Argentina has formally created the Secretariat of Nuclear Affairs, a significant structural shift in the country’s national energy strategy under President Javier Milei, aimed at positioning Argentina as a global energy leader and attracting large-scale investment.

In announcing the move, the government highlighted the country’s strengths for developing a nuclear plan, including its pool of highly trained human capital and vast, low-temperature lands in Patagonia seen as suitable for hosting artificial intelligence data centers. These advantages, officials said, allow for a combination of clean nuclear energy and cutting-edge technology.

The plan will roll out in stages. The first phase involves building small modular reactors, or SMRs, at the Atucha Nuclear Power Plant site, already underway, to ensure nationwide energy supply and reduce power outages.

SMRs produce stable and low-cost electricity, making them well-suited to power AI data centers, and would position Argentina as a regional hub for digital innovation and nuclear energy exports.

In the second phase, the government plans to develop uranium reserves to meet domestic demand and turn Argentina into an exporter of high-value nuclear fuels.

The Economy Ministry summed up the strategy in a recent statement, saying the government aims to “turn Argentina into the ‘Saudi Arabia of uranium.'”

This ambitious goal is based on the country’s uranium reserves, estimated at 36,483 tons identified and concentrated in provinces such as Mendoza, San Juan and Chubut, according to a report by the National Mining Secretariat.

Those reserves could generate significant export volumes and position Argentina as a key supplier in a growing global market driven by the energy transition.

However, physicist Alberto Baruj urged caution.

“Argentina has enough uranium for its reactors for decades. It does not have the extraordinary reserves found in other countries. Talking about being the Saudi Arabia of uranium is an exaggeration that I cannot support from a technical standpoint,” Baruj told UPI.

Baruj said Argentina could export uranium, thanks to its processing capacity. However, “it makes no sense to do so with raw ore. It would be far more convenient to process it for use in domestic reactors, including small modular reactors such as the domestically designed CAREM.”

The new nuclear institutional framework will also be tasked with leading policy on the exploitation of rare earth elements, minerals critical for batteries, cellphones and green technology, as well as nuclear minerals, in coordination with other government agencies.

It will promote collaboration among mining companies, provincial governments and private actors to increase production of these resources and drive investment, working alongside the Mining Secretariat to advance nuclear mining projects, material processing and technological applications.

“The Secretariat of Nuclear Affairs is taking on roles that previously belonged to the National Atomic Energy Commission, which blurs the agency’s place within the institutional structure,” a respected nuclear sector source who requested anonymity told UPI.

In their view, amid a budget crisis at the commission, the creation of a new body “further endangers what has historically been the center of Argentina’s nuclear activity. The inclusion of rare earth exploitation comes as a surprise within a nuclear affairs secretariat.”

Baruj also questioned the need for the new agency, saying its stated purpose, coordinating the nuclear sector, already falls by law under the National Atomic Energy Commission.

“It is possible that with the creation of the Secretariat, the government is seeking greater political control over the sector,” Baruj said. But, he added, creating a new secretariat is unnecessary if each institution fulfilled its assigned role.

“The massive loss of technical personnel with extraordinary capabilities must be reversed. But above all, the salary issue must be resolved, because the commission pays the lowest wages in the entire science and technology sector,” he said.

Baruj said the priority should be to ensure continuity of key projects such as completion of the RA-10 multipurpose reactor, its associated neutron beam laboratory, the CEARP Proton Therapy Center and the heavy water industrial plant.

“Argentina’s nuclear sector has sufficient capacity and depth to take on and carry out these projects. What is lacking, precisely, is political will,” he said.Based o

EU delays Mercosur trade deal until January amid farmer protests and opposition from France and Italy.

The European Union has delayed a massive free-trade deal with South American countries amid protests by EU farmers and as last-minute opposition by France and Italy threatened to derail the agreement.

European Commission chief spokesperson Paula Pinho confirmed on Thursday that the signing of the trade pact between the EU and South American bloc Mercosur will be postponed until January, further delaying a deal that had taken some 25 years to negotiate.

Commission President Ursula von der Leyen was expected to travel to Brazil on Saturday to sign the deal, but needed the backing of a broad majority of EU members to do so.

The Associated Press news agency reported that an agreement to delay was reached between von der Leyen, European Council President Antonio Costa and Italian Prime Minister Giorgia Meloni – who spoke at an EU summit on Thursday – on the condition that Italy would vote in favour of the agreement in January.

French President Emmanuel Macron had also pushed back against the deal as he arrived for Thursday’s summit in Brussels, calling for further concessions and more discussions in January.

Macron said he has been in discussions with Italian, Polish, Belgian, Austrian and Irish colleagues, among others, about delaying the signing.

“Farmers already face an enormous amount of challenges,″ the French leader said.

The trade pact with Argentina, Brazil, Bolivia, Paraguay and Uruguay would be the EU’s largest in terms of tariff cuts.

But critics of the deal, notably France and Italy, fear an influx of cheap commodities that could hurt European farmers, while Germany, Spain and Nordic countries say it will boost exports hit by United States tariffs and reduce reliance on China by securing access to key minerals.

Brazil’s President Lula says Italy’s PM Meloni asked for ‘patience’

The EU-Mercosur agreement would create the world’s biggest free-trade area and help the 27-nation European bloc to export more vehicles, machinery, wines and spirits to Latin America at a time of global trade tensions.

Al Jazeera’s Dominic Kane, reporting from Berlin, said Germany, Spain and the Nordic countries were “all lobbying hard in favour of this deal”. But ranged against them were the French and Italian governments because of concerns in their powerful farming sectors.

“Their worry being that their products, such as poultry and beef, could be undercut by far cheaper imports from the Mercosur countries,” Kane said.

“So no signing in December. The suggestion being maybe there will be a signing in mid-January,” he added.

“But there must now be a question about what might happen between now and mid-January, given the powerful forces ranged against each other in this debate,” he added.

Mercosur nations were notified of the move, a European Commission spokeswoman said, and while initially reacting with a now-or-never ultimatum to its EU partners, Brazil opened the door on Thursday to delaying the deal’s signature to allow time to win over the holdouts.

Brazil’s President Luiz Inacio Lula da Silva said Italy’s Meloni had asked him for “patience” and had indicated that Italy would eventually be ready for the agreement.

The decision to delay also came hours after farmers in tractors blocked roads and set off fireworks in Brussels to protest the deal, prompting police to respond with tear gas and water cannon.

Protesting farmers – some travelling to the Belgian capital from as far away as Spain and Poland – brought potatoes and eggs to throw and waged a furious back-and-forth with police while demonstrators burned tyres and a faux wooden coffin bearing the word “agriculture”.

The European Parliament evacuated some staff due to damage caused by protesters.