Latin America Defense Monitor — July 2–7, 2026

IBOV

177,866

▲ 2.97%

IPSA

11,057

▲ 0.28%

IPC MEX

66,496

▲ 0.59%

MERVAL

3,280,224

▲ 2.43%

COLCAP

2,307.67

▲ 0.65%

BVL PERÚ

56,194.27

▲ 1.29%

USD/BRL5.11▼ 0.04%

USD/MXN17.46▼ 0.05%

USD/CLP923.90▼ 0.41%

USD/COP3,242▲ 0.06%

USD/PEN3.39▼ 0.02%

USD/ARS

1,487

— 0.00%

USD/UYU40.22▲ 1.37%

USD/PYG6,055▲ 1.45%

USD/BOB10.14▲ 4.01%

USD/DOP58.48▼ 0.03%

USD/CRC448.82▲ 1.41%

USD/GTQ7.63▲ 2.31%

USD/HNL26.72▲ 0.09%

USD/NIO

36.62

— 0.00%

USD/VES719.54▼ 0.13%

USD/PAB1.00— 0.00%

USD/BZD2.00— 0.00%

USD/JMD157.67▲ 0.13%

USD/TTD6.75▲ 1.44%

EUR/BRL5.83▼ 1.07%

BRENT

76.01

▼ 0.38%

WTI

71.41

▼ 0.93%

IRON ORE

161.91

— —

COPPER

6.28

▲ 1.08%

GOLD

4,114

▼ 0.41%

SILVER

60.17

▼ 0.35%

SOY

1,191

▲ 0.93%

CORN

461.00

▲ 7.77%

WHEAT

640.25

▲ 4.74%

COFFEE

318.60

▼ 10.74%

SUGAR

14.86

▼ 1.72%

ORANGE JUICE

143.25

▼ 4.44%

COTTON

80.87

▲ 6.18%

COCOA

6,100

▼ 3.31%

BEEF

235.20

▼ 0.02%

CATTLE

354.60

▼ 0.44%

LITHIUM

72.32

▼ 0.69%

PETR4

39.65

▲ 1.12%

VALE3

74.18

▲ 1.41%

ITUB4

44.30

▲ 4.02%

BBDC4

18.86

▲ 4.78%

ABEV3

15.82

▲ 0.64%

BBAS3

20.58

▲ 2.90%

B3SA3

15.42

▲ 4.26%

WEGE3

46.51

▲ 1.68%

PRIO3

55.45

▼ 0.29%

SUZB3

41.55

▲ 1.27%

RENT3

41.10

▲ 4.31%

AZZA3

19.10

▲ 3.47%

CSAN3

4.07

▲ 5.44%

RAIZ4

0.35

▼ 5.41%

PCAR3

2.73

▼ 1.09%

GMAT3

3.97

▲ 1.02%

PSSA3

54.97

▲ 3.04%

CVCB3

1.25

— 0.00%

POSI3

3.97

▲ 3.12%

SLCE3

14.02

▲ 1.67%

NATU3

8.68

▲ 2.60%

BRKM5

6.63

▲ 4.25%

RANI3

8.01

▲ 1.91%

CSNA3

5.18

▲ 7.92%

CMIN3

5.23

▲ 8.28%

USIM5

8.45

▲ 1.20%

GGBR4

23.01

▲ 2.36%

ENEV3

27.55

▲ 5.15%

CPFE3

47.87

▲ 3.41%

CMIG4

11.38

▲ 2.71%

EQTL3

40.91

▲ 3.54%

LREN3

14.62

▲ 3.32%

VIVT3

35.75

▲ 3.62%

RAIL3

14.36

▲ 4.44%

KLABIN

17.54

▲ 0.80%

RAIA DROGASIL

18.77

▲ 3.53%

RDOR3

36.02

▲ 2.48%

HAPV3

10.60

▲ 5.26%

FLRY3

16.42

▲ 4.25%

SMTO3

16.37

▲ 1.99%

UGPA3

30.71

▲ 2.03%

VBBR3

33.00

▲ 2.80%

BBSE3

40.35

▲ 2.72%

BPAC11

58.73

▲ 5.48%

CURY3

34.21

▲ 4.62%

AERI3

2.09

▲ 1.46%

VIVARA

23.53

▲ 4.21%

COMPASS

25.50

▲ 3.32%

VAMOS

3.06

▲ 3.38%

SANB11

27.62

▲ 5.22%

ASAI3

8.87

▲ 4.85%

SBSP3

31.11

▲ 3.70%

WALMEX

49.31

▲ 0.59%

GMEXICO

198.62

▲ 1.68%

FEMSA

223.20

▲ 0.37%

CEMEX

21.82

▲ 0.51%

GFNORTE

186.51

▲ 0.63%

BIMBO

56.06

▲ 0.23%

TELEVISA

9.74

▲ 2.63%

AMX

22.70

▲ 0.27%

GAP

412.01

▼ 0.41%

ASUR

285.12

▲ 0.53%

OMA

235.73

▼ 0.95%

KOF

182.08

▲ 0.65%

GRUMA

282.99

▲ 0.14%

KIMBER

38.13

▼ 0.81%

SQM-B

67,750

▼ 1.95%

COPEC

6,139

▲ 1.98%

BSANTANDER

79.00

▲ 1.94%

FALABELLA

5,905

▲ 0.92%

ENELAM

85.40

▲ 1.47%

CENCOSUD

2,045

▼ 0.55%

CMPC

1,109

▲ 1.32%

BANCO CHILE

188.88

▲ 1.01%

LATAM AIR

26.26

▼ 0.53%

YPF

74,450

▼ 1.75%

GGAL

8,350

▲ 5.96%

PAMPA

5,185

▼ 0.38%

TXAR

671.00

▲ 0.98%

ALUAR

978.00

▲ 0.98%

TGS

9,610

▲ 3.22%

CEPU

2,405

▲ 3.89%

MIRGOR

17,375

▲ 1.02%

COME

45.90

▲ 1.06%

LOMA NEGRA

3,583

▲ 2.43%

BYMA

314.00

▲ 1.37%

TELECOM ARG

4,248

▲ 3.09%

ECOPETROL

15.59

▲ 1.27%

BANCOLOMBIA

82.95

▲ 2.50%

GRUPO AVAL

5.08

▲ 1.20%

CREDICORP

400.81

▲ 2.27%

SOUTHERN COPPER

175.83

▲ 0.80%

BUENAVENTURA

30.00

▲ 1.52%

MERCADOLIBRE

1,852

▲ 2.46%

NUBANK

13.76

▲ 0.66%

XP

16.92

▲ 3.11%

PAGSEGURO

9.25

▲ 2.78%

STONE

11.21

▲ 2.28%

GLOBANT

29.96

▼ 4.25%

TECNOGLASS

43.90

▲ 1.76%

GAP AIRPORT

235.64

▲ 0.50%

ASUR

285.12

▲ 0.53%

OMA AIRPORT

108.09

▼ 0.22%

AMX ADR

26.04

▲ 0.77%

FEMSA ADR

127.70

▲ 0.55%

CEMEX ADR

12.48

▲ 0.89%

PETROBRAS ADR

17.32

▲ 1.70%

VALE ADR

14.46

▲ 1.69%

ITAU ADR

8.62

▲ 4.11%

SANTANDER BR

5.39

▲ 4.86%

AMBEV ADR

3.07

▲ 0.99%

CSN

1.01

▲ 5.79%

GERDAU

4.50

▲ 2.04%

LATAM ADR

56.45

▼ 1.03%

BTC

63,986

▲ 0.29%

ETH

1,815

▲ 1.50%

SOL

77.26

▲ 0.57%

XRP

1.10

▼ 0.04%

BNB

578.92

▲ 0.70%

ADA

0.16

▼ 1.37%

DOGE

0.07

— 0.00%

AVAX

6.42

▼ 2.02%

LINK

8.02

▲ 1.21%

DOT

0.84

▼ 2.01%

LTC

44.50

▼ 0.44%

BCH

244.22

▼ 0.08%

TRX

0.33

▲ 0.39%

XLM

0.19

▲ 1.08%

HBAR

0.07

▼ 1.52%

NEAR

1.89

▲ 1.38%

ATOM

1.59

▲ 0.27%

AAVE

98.02

▼ 0.22%

SELIC

14.25%

—

EMBRAER

84.60

▲ 0.88%

EMBRAER ADR

66.01

▲ 0.72%

JBS

11.91

▲ 1.53%

JBS BDR

60.78

▲ 1.22%

MBRF3

15.55

▲ 0.91%

MBRFY

2.97

▼ 1.00%

INTER

5.82

▲ 1.93%

EGX

52,256

▲ 0.44%

USD/ZAR16.35▼ 0.09%

USD/NGN1,376▼ 0.15%

NIKKEI

68,558

▲ 1.20%

CSI300

4,781

▼ 1.96%

HSI

24,175

▲ 0.60%

NIFTY

24,207

▲ 1.02%

KOSPI

7,476

▲ 2.52%

JCI

5,924

▲ 0.20%

USD/JPY161.67▼ 0.44%

USD/CNY6.77▼ 0.15%

DAX

25,067

▼ 0.20%

CAC

8,339

▲ 0.15%

FTSE

10,497

▲ 0.24%

MIB

52,614

▲ 0.44%

IBEX

19,385

▲ 0.32%

STOXX

641.10

▲ 0.04%

EUR/USD1.14▼ 0.10%

GBP/USD1.34▼ 0.11%

SPX

7,575

▲ 0.42%

DJI

52,637

▲ 0.29%

NDX

29,825

▲ 0.33%

RUT

2,978

▼ 0.49%

TSX

35,305

▲ 0.30%

VIX

15.03

▼ 5.11%

USD/CAD1.42▼ 0.03%

US10Y

4.5690

▲ 0.66%

IBOV

177,866

▲ 2.97%

IPSA

11,057

▲ 0.28%

IPC MEX

66,496

▲ 0.59%

MERVAL

3,280,224

▲ 2.43%

COLCAP

2,307.67

▲ 0.65%

BVL PERÚ

56,194.27

▲ 1.29%

USD/BRL

5.11

▼ 0.04%

USD/MXN

17.46

▼ 0.05%

USD/CLP

923.90

▼ 0.41%

USD/COP

3,242

▲ 0.06%

USD/PEN

3.39

▼ 0.02%

USD/ARS

1,487

— 0.00%

USD/UYU

40.22

▲ 1.37%

USD/PYG

6,055

▲ 1.45%

USD/BOB

10.14

▲ 4.01%

USD/DOP

58.48

▼ 0.03%

USD/CRC

448.82

▲ 1.41%

USD/GTQ

7.63

▲ 2.31%

USD/HNL

26.72

▲ 0.09%

USD/NIO

36.62

— 0.00%

USD/VES

719.54

▼ 0.13%

USD/PAB

1.00

— 0.00%

USD/BZD

2.00

— 0.00%

USD/JMD

157.67

▲ 0.13%

USD/TTD

6.75

▲ 1.44%

EUR/BRL

5.83

▼ 1.07%

BRENT

76.01

▼ 0.38%

WTI

71.41

▼ 0.93%

IRON ORE

161.91

— —

COPPER

6.28

▲ 1.08%

GOLD

4,114

▼ 0.41%

SILVER

60.17

▼ 0.35%

SOY

1,191

▲ 0.93%

CORN

461.00

▲ 7.77%

WHEAT

640.25

▲ 4.74%

COFFEE

318.60

▼ 10.74%

SUGAR

14.86

▼ 1.72%

ORANGE JUICE

143.25

▼ 4.44%

COTTON

80.87

▲ 6.18%

COCOA

6,100

▼ 3.31%

BEEF

235.20

▼ 0.02%

CATTLE

354.60

▼ 0.44%

LITHIUM

72.32

▼ 0.69%

PETR4

39.65

▲ 1.12%

VALE3

74.18

▲ 1.41%

ITUB4

44.30

▲ 4.02%

BBDC4

18.86

▲ 4.78%

ABEV3

15.82

▲ 0.64%

BBAS3

20.58

▲ 2.90%

B3SA3

15.42

▲ 4.26%

WEGE3

46.51

▲ 1.68%

PRIO3

55.45

▼ 0.29%

SUZB3

41.55

▲ 1.27%

RENT3

41.10

▲ 4.31%

AZZA3

19.10

▲ 3.47%

CSAN3

4.07

▲ 5.44%

RAIZ4

0.35

▼ 5.41%

PCAR3

2.73

▼ 1.09%

GMAT3

3.97

▲ 1.02%

PSSA3

54.97

▲ 3.04%

CVCB3

1.25

— 0.00%

POSI3

3.97

▲ 3.12%

SLCE3

14.02

▲ 1.67%

NATU3

8.68

▲ 2.60%

BRKM5

6.63

▲ 4.25%

RANI3

8.01

▲ 1.91%

CSNA3

5.18

▲ 7.92%

CMIN3

5.23

▲ 8.28%

USIM5

8.45

▲ 1.20%

GGBR4

23.01

▲ 2.36%

ENEV3

27.55

▲ 5.15%

CPFE3

47.87

▲ 3.41%

CMIG4

11.38

▲ 2.71%

EQTL3

40.91

▲ 3.54%

LREN3

14.62

▲ 3.32%

VIVT3

35.75

▲ 3.62%

RAIL3

14.36

▲ 4.44%

KLABIN

17.54

▲ 0.80%

RAIA DROGASIL

18.77

▲ 3.53%

RDOR3

36.02

▲ 2.48%

HAPV3

10.60

▲ 5.26%

FLRY3

16.42

▲ 4.25%

SMTO3

16.37

▲ 1.99%

UGPA3

30.71

▲ 2.03%

VBBR3

33.00

▲ 2.80%

BBSE3

40.35

▲ 2.72%

BPAC11

58.73

▲ 5.48%

CURY3

34.21

▲ 4.62%

AERI3

2.09

▲ 1.46%

VIVARA

23.53

▲ 4.21%

COMPASS

25.50

▲ 3.32%

VAMOS

3.06

▲ 3.38%

SANB11

27.62

▲ 5.22%

ASAI3

8.87

▲ 4.85%

SBSP3

31.11

▲ 3.70%

WALMEX

49.31

▲ 0.59%

GMEXICO

198.62

▲ 1.68%

FEMSA

223.20

▲ 0.37%

CEMEX

21.82

▲ 0.51%

GFNORTE

186.51

▲ 0.63%

BIMBO

56.06

▲ 0.23%

TELEVISA

9.74

▲ 2.63%

AMX

22.70

▲ 0.27%

GAP

412.01

▼ 0.41%

ASUR

285.12

▲ 0.53%

OMA

235.73

▼ 0.95%

KOF

182.08

▲ 0.65%

GRUMA

282.99

▲ 0.14%

KIMBER

38.13

▼ 0.81%

SQM-B

67,750

▼ 1.95%

COPEC

6,139

▲ 1.98%

BSANTANDER

79.00

▲ 1.94%

FALABELLA

5,905

▲ 0.92%

ENELAM

85.40

▲ 1.47%

CENCOSUD

2,045

▼ 0.55%

CMPC

1,109

▲ 1.32%

BANCO CHILE

188.88

▲ 1.01%

LATAM AIR

26.26

▼ 0.53%

YPF

74,450

▼ 1.75%

GGAL

8,350

▲ 5.96%

PAMPA

5,185

▼ 0.38%

TXAR

671.00

▲ 0.98%

ALUAR

978.00

▲ 0.98%

TGS

9,610

▲ 3.22%

CEPU

2,405

▲ 3.89%

MIRGOR

17,375

▲ 1.02%

COME

45.90

▲ 1.06%

LOMA NEGRA

3,583

▲ 2.43%

BYMA

314.00

▲ 1.37%

TELECOM ARG

4,248

▲ 3.09%

ECOPETROL

15.59

▲ 1.27%

BANCOLOMBIA

82.95

▲ 2.50%

GRUPO AVAL

5.08

▲ 1.20%

CREDICORP

400.81

▲ 2.27%

SOUTHERN COPPER

175.83

▲ 0.80%

BUENAVENTURA

30.00

▲ 1.52%

MERCADOLIBRE

1,852

▲ 2.46%

NUBANK

13.76

▲ 0.66%

XP

16.92

▲ 3.11%

PAGSEGURO

9.25

▲ 2.78%

STONE

11.21

▲ 2.28%

GLOBANT

29.96

▼ 4.25%

TECNOGLASS

43.90

▲ 1.76%

GAP AIRPORT

235.64

▲ 0.50%

ASUR

285.12

▲ 0.53%

OMA AIRPORT

108.09

▼ 0.22%

AMX ADR

26.04

▲ 0.77%

FEMSA ADR

127.70

▲ 0.55%

CEMEX ADR

12.48

▲ 0.89%

PETROBRAS ADR

17.32

▲ 1.70%

VALE ADR

14.46

▲ 1.69%

ITAU ADR

8.62

▲ 4.11%

SANTANDER BR

5.39

▲ 4.86%

AMBEV ADR

3.07

▲ 0.99%

CSN

1.01

▲ 5.79%

GERDAU

4.50

▲ 2.04%

LATAM ADR

56.45

▼ 1.03%

BTC

63,986

▲ 0.29%

ETH

1,815

▲ 1.50%

SOL

77.26

▲ 0.57%

XRP

1.10

▼ 0.04%

BNB

578.92

▲ 0.70%

ADA

0.16

▼ 1.37%

DOGE

0.07

— 0.00%

AVAX

6.42

▼ 2.02%

LINK

8.02

▲ 1.21%

DOT

0.84

▼ 2.01%

LTC

44.50

▼ 0.44%

BCH

244.22

▼ 0.08%

TRX

0.33

▲ 0.39%

XLM

0.19

▲ 1.08%

HBAR

0.07

▼ 1.52%

NEAR

1.89

▲ 1.38%

ATOM

1.59

▲ 0.27%

AAVE

98.02

▼ 0.22%

SELIC

14.25%

—

EMBRAER

84.60

▲ 0.88%

EMBRAER ADR

66.01

▲ 0.72%

JBS

11.91

▲ 1.53%

JBS BDR

60.78

▲ 1.22%

MBRF3

15.55

▲ 0.91%

MBRFY

2.97

▼ 1.00%

INTER

5.82

▲ 1.93%

EGX

52,256

▲ 0.44%

USD/ZAR

16.35

▲ 0.24%

USD/NGN

1,376

▲ 0.08%

NIKKEI

68,558

▲ 1.20%

CSI300

4,781

▼ 1.96%

HSI

24,175

▲ 0.60%

NIFTY

24,207

▲ 1.02%

KOSPI

7,476

▲ 2.52%

JCI

5,924

▲ 0.20%

USD/JPY

161.67

▼ 0.42%

USD/CNY

6.7667

▼ 0.37%

DAX

25,067

▼ 0.20%

CAC

8,339

▲ 0.15%

FTSE

10,497

▲ 0.24%

MIB

52,614

▲ 0.44%

IBEX

19,385

▲ 0.32%

STOXX

641.10

▲ 0.04%

EUR/USD

1.1419

▼ 0.13%

GBP/USD

1.3401

▼ 0.02%

SPX

7,575

▲ 0.42%

DJI

52,637

▲ 0.29%

NDX

29,825

▲ 0.33%

RUT

2,978

▼ 0.49%

TSX

35,305

▲ 0.30%

VIX

15.03

▼ 5.11%

USD/CAD

1.4153

▼ 0.09%

US10Y

4.5690

▲ 0.66%

Weekly Edition · Monday, July 7, 2026 · Issue #18

Military moves, arms deals and security policy across Latin America and the Caribbean, in plain language

Executive Summary

The Big Picture: The region’s biggest air-force drill of the year, Salitre 2026, kicked off this week in Chile’s Atacama Desert. Warplanes, tankers and transport aircraft from six countries — Argentina, Brazil, Chile, Colombia, the United States and Paraguay — are flying together out of Cerro Moreno air base near Antofagasta.

It is the first time so many of them have shared the same skies at once. Colombia’s little A-29 Super Tucano turboprops are taking part in a Chilean exercise for the very first time, while Chilean F-16 and F-5 jets play the “enemy” and Chilean tanker planes top everyone up in mid-air.

The drill comes as several countries announced huge new spending on their armed forces. Colombia’s outgoing president, Gustavo Petro, unveiled the country’s largest-ever military shopping list: 80 new aircraft (including 17 Swedish Gripen fighter jets), 46 helicopters, 94 boats, 127 armoured vehicles, 111,000 rifles made at home, and a shield to knock drones out of the sky — a package worth more than 12 billion dollars that he wants to lock in before he leaves office on August 7.

In Argentina, a 398.7-million-dollar deal was signed to buy long-range air-to-air missiles for its incoming F-16 jets — the kind that can hit a target before the enemy pilot even sees you. And in the Peruvian city of Cusco, defence ministers from across the Americas are meeting this week, where Peru has floated the idea of a shared naval force to fight drug traffickers.

The Bottom Line Up Front: This is the busiest week for the region’s militaries since the big FIDAE arms fair in April. Salitre shows six air forces learning to fly side by side. The ministers’ meeting in Cusco is where those working relationships get turned into policy. Colombia’s 12-billion-dollar plan, if it actually happens, would be the biggest single defence buy in Latin American history — and its choice of Swedish Gripens ties it closely to Brazil, which flies the same jet. Argentina’s new missiles finally give its fighters real long-range punch. Chile, meanwhile, said out loud that Washington places “no restrictions” on it buying the stealth F-35 — a hint it may aim higher than expected. And after the June 24 earthquakes in Venezuela, several militaries — including Brazil’s — have flown in to help, a rescue effort we track further down.

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Where Things Stand

Country

Status

What’s Happening

Chile (Salitre 2026)

Active

Salitre 2026 opens at Cerro Moreno: six nations flying together; Colombia’s Super Tucanos make their first appearance; Chilean F-16s and F-5s play the mock enemy; tanker planes refuel in mid-air.

Peru (Cusco talks)

Active

The Americas’ defence-ministers conference opens July 7 in Cusco; Peru proposes a shared naval force against drug trafficking.

Colombia

Active

Petro unveils a 12-billion-dollar-plus plan: 80 aircraft (17 Gripen jets), 46 helicopters, 94 boats, 127 armoured vehicles, 111,000 home-made rifles and an anti-drone shield — to be locked in before he leaves on August 7.

Argentina

Active

A 398.7-million-dollar deal confirmed for 36 long-range air-to-air missiles for its F-16s; state arms-maker opens a hunt for a strategic partner; new army trucks on order.

Chile

Active

Government says it faces “no U.S. restrictions” on buying the stealth F-35; a Royal Navy ship visits Punta Arenas; the air force flies a third aid mission to Bolivia.

Venezuela

Elevated

Several militaries fly in aid after the June 24 earthquakes; Brazil sends two transport planes; US Southern Command is helping coordinate.

Caribbean / E. Pacific

Elevated

The US anti-drug campaign at sea continues; the carrier USS Nimitz is in the area; the reported death toll passes 190.

Brazil

Active

Sends transport planes to help in Venezuela; runs a joint drill with Argentina; takes part in Salitre; new frigate now in service.

01The Week’s Key StoriesJul 2–7, 2026

CHILE1. Six air forces fly together over the Atacama in the region’s toughest air drill

The fifth edition of Exercise Salitre began at Cerro Moreno air base near Antofagasta, with warplanes from Argentina, Brazil, Chile, Colombia, the United States and Paraguay. This week the live-flying part got under way over the Atacama Desert, with Chilean F-16 and F-5 jets flying as the pretend enemy so the others can practise against them.

Colombia sent four of its small A-29 Super Tucano turboprops — its first time ever in a Chilean drill, a sign of how much closer Brazil, Colombia and Chile have grown. A Chilean tanker plane refuelled other jets in the air, building on a milestone in April when the same kind of tanker fuelled two American F-35 stealth fighters for the first time.

One US F-35 pilot later said the Chileans “exceeded my expectations by far.” Chilean and US crews trained together on July 7.

The drill runs into mid-July and covers everything from air-to-air combat to supporting troops on the ground and refuelling in flight. President Kast is expected to visit on July 8.

What it means: Salitre is the real-world test of everything the region’s air forces have been buying and talking about. Six countries flying combined missions — Colombian turboprops next to Chilean F-16s, American jets and Brazilian and Argentine planes — simply did not happen three years ago. It quietly tests three relationships at once: Chile’s growing ties to the US (the F-35 refuelling), Colombia lining up with Brazil (both now leaning on the Swedish Gripen), and Argentina finding its feet again after decades of decline. And nowhere else in the region offers the empty skies and harsh desert that make this drill so useful.

COLOMBIA2. Petro unveils a 12-billion-dollar arms plan — the biggest in Colombia’s history — weeks before leaving office

President Gustavo Petro laid out the most ambitious military overhaul Colombia has ever attempted: 80 new aircraft, including 17 Swedish Gripen fighter jets, plus transport planes and 46 helicopters to replace an ageing fleet. The plan also adds 94 boats (patrol, coast-guard and river craft), 127 armoured vehicles that Petro wants built in Colombia, 111,000 rifles made at home by the state arms firm Indumil, and a national shield to detect and bring down enemy drones.

The whole package tops 12 billion dollars (about 47 trillion pesos). The 17 Gripen jets alone are worth roughly 4.3 billion — a deal with Sweden’s Saab that took years to sign.

Foreign suppliers will also have to invest at least a tenth of each contract’s value back into Colombian industry, so the country builds skills as well as buys gear.

Petro wants it all locked in before August 7, when his term ends. Committing the next government to years of spending, just two months before it takes over, has drawn criticism.

Petro pointed to a recent air-force plane crash: “We don’t want more young people dying because of the age of the equipment they use.”

What it means: If it actually happens, this is the biggest single defence buy in Latin American history. Choosing the Swedish Gripen ties Colombia tightly to Brazil, which flies the same jet — the two are building their air forces around Swedish and Brazilian gear rather than American. The scale is huge: 80 aircraft, 94 ships, 127 armoured vehicles and a home-made rifle line. The big open question is political: can an outgoing president really bind his successor to spending this large? The Gripen deal looks locked; the rest may be reopened by whoever wins the election.

ARGENTINA3. Argentina buys long-range missiles that finally give its F-16s real teeth

The US Defense Department signed a 398.7-million-dollar deal with Raytheon that keeps Argentina’s 36 long-range air-to-air missiles on track to be built and delivered alongside its new F-16 jets. Work runs through December 2027 at Raytheon’s plant in Tucson, Arizona.

These are the most advanced export version of the missile, able to reach well over 160 kilometres — meaning a pilot can fire before the enemy plane is even in sight. Argentina has gone decades without that ability.

The wider weapons package, approved back in December 2024, is worth 941 million dollars and includes guided bombs and support gear.

Separately, Argentina put out a tender for heavy trucks to carry its radars, and its state arms-maker opened a search for a strategic partner to modernise its factories — early signs that the new financing plan the government set up in May is starting to turn into real orders.

What it means: This is the difference between owning fighter jets and having a real air force. Without long-range missiles, Argentina’s F-16s would be modern planes fighting with old limits. With them, they become the most dangerous air-to-air fighters in the southern part of the continent — shifting the balance against Chile’s and Brazil’s jets. Paired with the new funding plan and the factory partner search, Argentina is building the money and the industry to keep rearming beyond a single government.

PERU4. Defence ministers meet in Cusco — as Peru’s own jet-buying scandal hangs over the room

Defence ministers and military chiefs from across the Americas gathered in Cusco this week (July 7–10) for the region’s top security-policy meeting. Peru’s navy chief proposed setting up a shared naval force to fight drug trafficking — a joint fleet under common command, rather than the US running strikes on its own.

The meeting comes while Peru is still reeling from its fighter-jet scandal: a 3.5-billion-dollar deal signed in April without the president’s knowledge, with 462 million dollars already paid, now under investigation by Congress. The June 7 run-off election will decide whether the next government keeps or cancels the deal.

Hosting the region’s ministers while caught in its own procurement scandal is an awkward look for Peru.

What it means: Peru’s idea matters: a shared naval force would be a joint, accountable alternative to the US-run strike campaign at sea, which has killed people with almost no public accounting. Whether it goes anywhere depends on whether Washington sees it as a helper or a rival. And the timing — a big scandal unresolved, a new president about to take over — casts Peru as both a builder of regional security and a warning of what happens when civilian control breaks down.

CHILE5. Chile says Washington puts “no restrictions” on it buying the stealth F-35

Chile’s defence ministry finally addressed months of rumours, saying the country faces no US restrictions on buying the F-35, America’s newest stealth fighter. The wording was careful — it neither confirmed a deal nor ruled one out — but it is the clearest sign yet that the Kast government sees the F-35 as a real option for the long term.

It follows that April moment when a Chilean tanker refuelled two US F-35s in mid-air, proving Chile already has the support planes such jets need. The F-35 also made a headline appearance at Chile’s FIDAE arms fair in April — widely read as a sales pitch.

Separately, a Royal Navy patrol ship, HMS Medway, made its first-ever visit to Punta Arenas on July 5, showing renewed British interest in Chile’s gateway to Antarctica. Chile’s air force also flew a third aid mission to Bolivia, carrying six tonnes of food.

What it means: This changes the conversation. The question was whether Chile could buy the F-35; the answer is now yes. What’s left — whether it will, when, and how many — comes down to money and political will. If Chile goes ahead, it would be the first country in Latin America to fly the F-35, opening a clear gap over every other air force in the region. And because it already has the tanker planes, it wouldn’t be starting from scratch. The British ship visit adds a London angle, with the Falklands-Antarctica corridor back in focus.

HEMISPHERE6. Militaries rush earthquake aid to Venezuela while the US anti-drug campaign rolls on

The response to Venezuela‘s June 24 earthquakes grew into a large aid operation, with military and rescue teams from several countries. Brazil sent two transport planes carrying relief supplies and specialists who help locate mobile-phone signals from people trapped under rubble — showing how the same aircraft used for military transport can double as a fast rescue tool.

At the same time, the US anti-drug campaign at sea kept going. The reported death toll is now above 190, with the carrier USS Nimitz still in the area.

American forces are now working with Venezuela’s new government on both fronts — fighting drugs and delivering aid — cooperation that was unthinkable under Maduro six months ago.

What it means: The earthquake relief opens a new chapter in the post-Maduro relationship: US and regional forces are now inside Venezuela not just to chase drugs but to save lives — the kind of on-the-ground contact that builds trust faster than any treaty. For Brazil, the mission is both genuine help and a live showcase of its transport plane. And the anti-drug strikes carrying on during the rescue show the region’s split-screen posture: one hand delivering aid, the other still hitting boats at sea.

02What’s Being Bought

Country

The Deal

Where It Stands

Why It Matters

Colombia

12bn-dollar plan: 17 Gripen jets, 80 aircraft, 46 helicopters, 94 boats, 127 armoured vehicles, 111,000 rifles, anti-drone shield

Gripen deal signed; rest being locked in before Aug 7

Biggest single defence buy in the region’s history if it happens; ties Colombia to Brazil

Argentina

36 long-range air-to-air missiles (399m dollars; 941m full package); radar trucks; factory partner search

Deal signed; missiles built through Dec 2027

Long-range punch reshapes the southern air balance

Chile

F-35 stealth jet (possible); transport planes; submarines

“No US restrictions” confirmed; still weighing options

Could become the first F-35 operator in Latin America

Peru

24 F-16 jets (3.5bn dollars) — scandal

462m paid; deal’s future in doubt

Region’s biggest arms scandal; next president decides its fate

Colombia (home-made)

Jaguar pistols and rifles (111,000)

Pistol launch imminent; rifles at 80,000 a year

A home-grown arms industry, mostly built in Colombia

03The Big Powers

United States

Deepening ties with Chile at Salitre and arming Argentina’s F-16s with new missiles. It confirmed Chile can buy the F-35. Its anti-drug campaign at sea has now passed 190 dead, with the carrier Nimitz on station, and it is helping coordinate earthquake aid in Venezuela — cooperation that now spans security, oil and disaster relief.

Russia

Colombia’s plan to replace its old Russian-made helicopters removes one of the last big Russian footprints in a major Latin American military. Moscow is now almost entirely shut out of the region’s arms market.

China

No direct defence news, but its huge trade with the region keeps it in the background. Colombia’s rule that suppliers invest locally could open a door for Chinese firms — though choosing the Swedish Gripen points the other way. Commercial drones remain China’s biggest indirect military footprint here.

South Korea

Colombia’s plan to buy 127 armoured vehicles — preferably assembled at home — is a clear opening for Korean makers. Seoul is pitching itself as a “third way” as both American and Swedish suppliers expand across the region.

04What to WatchNext 7–30 Days

CHILEHow Salitre goes, and President Kast’s visit. Any next step on the F-35 — a formal request or a budget line. Decisions left over from the April arms fair.

COLOMBIAWhether Petro locks in the 12bn plan before Aug 7. The Gripen contract paperwork, the anti-drone award, and how the incoming government reacts.

PERUWhat comes out of the Cusco talks and Peru’s shared-fleet idea. The F-16 scandal investigation, the run-off result, and whether the next president keeps the 3.5bn deal.

ARGENTINAWhen the new missiles arrive and the F-16s become fully combat-ready. The funding plan’s 90-day deadline, and the factory-partner choice. A joint drill with Brazil.

VENEZUELAHow long the earthquake relief runs and how deep the US role goes. The stability of the new government, and oil operations alongside the rescue.

05The Bottom Line

Over the Atacama Desert, six countries are flying warplanes together. In a Bogota military academy, an outgoing president announced 12 billion dollars of arms spending before handing over power.

In Tucson, Arizona, a factory line is building missiles that will make Argentina’s fighters the most dangerous in the southern continent. In Cusco, defence ministers are talking about a shared anti-drug fleet — while the host country’s own jet scandal stays unresolved.

And in Chile, the government confirmed what many suspected: it can buy the stealth F-35 if it chooses to.

Put together, Colombia’s plan, Argentina’s missiles, Chile’s F-35 opening and Peru’s contested deal add up to more than 16 billion dollars in defence spending — committed, possible or disputed. That is more than many countries in the region spend on their entire military in a decade.

The pattern is clear: the whole region is rearming at once, and each country is picking a different supplier, a different way to pay for it, and a different level of civilian control.

Salitre is the test of whether all those different systems can actually work together. Colombian turboprops flying next to Chilean F-16s, American jets, and Brazilian and Argentine planes is more than a drill — it is proof that a “buy from everyone” strategy can hold together in the air.

No one relies on a single supplier any more. Everyone is spreading their bets.

Read across the whole series, the story is consistent: Brazil builds warships, Colombia buys Gripens, Argentina arms its F-16s, Chile eyes the F-35, and Peru signed in secret. The boats still burn at sea.

The drones still swarm over Colombia. And above one of the driest places on earth, the aircraft that will shape the region’s balance of power for decades are learning to fight side by side.

The choices are being made. The one question that runs through every edition still hangs in the air: can the region’s institutions keep control of the forces they are building up?

Latin America Defense Monitor

Weekly Edition · Monday, July 7, 2026 · By The Rio Times Defense Desk