IBOV 176,010.90 ▼ 0.36% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,291,246 ▲ 1.92% COLCAP 2,292.03 ▼ 0.29% BVL PERÚ 57,174.37 — — USD/BRL5.08▼ 0.07% USD/MXN17.41▲ 0.13% USD/CLP925.20▼ 0.09% USD/COP3,218▼ 1.31% USD/PEN3.39▲ 0.08% USD/ARS1,475▼ 0.05% USD/UYU40.15▲ 1.04% USD/PYG6,039▲ 1.28% USD/BOB10.65▲ 5.99% USD/DOP58.36▲ 0.19% USD/CRC447.49▲ 0.88% USD/GTQ7.62▲ 2.09% USD/HNL26.73▼ 0.01% USD/NIO36.62▲ 0.34% USD/VES725.63▲ 0.11% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▲ 0.44% USD/TTD6.76▲ 1.32% EUR/BRL5.82▲ 0.21% BRENT 84.58 ▼ 0.44% WTI 79.45 ▼ 0.19% IRON ORE 161.91 — — COPPER 6.39 ▲ 1.60% GOLD 4,037 ▼ 0.18% SILVER 57.11 — 0.00% SOY 1,206 ▲ 0.27% CORN 472.25 ▲ 5.53% WHEAT 685.00 ▲ 1.11% COFFEE 320.00 ▼ 4.32% SUGAR 14.52 ▼ 2.22% ORANGE JUICE 140.45 ▲ 0.14% COTTON 80.82 ▲ 0.32% COCOA 5,737 — 0.00% BEEF 226.00 ▼ 2.34% CATTLE 349.95 ▲ 0.33% LITHIUM 71.06 ▼ 0.73% PETR4 40.59 ▼ 0.17% VALE3 74.51 ▲ 0.68% ITUB4 43.14 ▼ 1.12% BBDC4 18.60 ▼ 0.16% ABEV3 15.57 ▼ 1.52% BBAS3 20.55 ▼ 0.19% B3SA3 15.69 ▲ 2.35% WEGE3 44.26 ▲ 0.14% PRIO3 57.50 ▼ 0.12% SUZB3 41.48 ▲ 0.90% RENT3 40.35 ▼ 0.47% AZZA3 18.66 ▼ 1.01% CSAN3 3.93 ▲ 1.03% RAIZ4 0.29 ▼ 6.45% PCAR3 2.62 ▲ 6.94% GMAT3 3.98 ▲ 0.51% PSSA3 55.22 ▲ 1.71% CVCB3 1.34 ▼ 2.90% POSI3 3.95 ▼ 1.00% SLCE3 13.50 ▼ 2.24% NATU3 8.67 ▲ 1.40% BRKM5 6.41 ▼ 6.15% RANI3 7.98 ▼ 0.37% CSNA3 5.24 ▲ 0.77% CMIN3 5.24 ▲ 2.75% USIM5 8.20 ▼ 0.36% GGBR4 24.20 ▲ 3.77% ENEV3 26.95 ▼ 0.81% CPFE3 46.83 ▼ 0.78% CMIG4 11.15 ▼ 0.45% EQTL3 40.33 ▼ 1.51% LREN3 14.10 ▼ 1.33% VIVT3 35.47 ▼ 0.14% RAIL3 14.07 ▼ 0.42% KLABIN 17.39 ▲ 0.40% RAIA DROGASIL 18.67 ▲ 0.38% RDOR3 36.01 ▼ 0.11% HAPV3 10.99 ▼ 1.79% FLRY3 16.51 ▲ 0.61% SMTO3 15.53 ▼ 3.66% UGPA3 31.10 ▲ 3.29% VBBR3 33.75 ▲ 1.35% BBSE3 40.71 ▲ 0.79% BPAC11 57.04 ▼ 1.57% CURY3 32.73 ▼ 2.56% AERI3 2.02 ▼ 2.42% VIVARA 23.52 ▲ 0.38% COMPASS 25.11 ▼ 0.36% VAMOS 3.12 ▼ 0.95% SANB11 27.00 ▼ 1.24% ASAI3 8.66 — 0.00% SBSP3 29.98 ▼ 1.19% WALMEX 49.61 ▲ 0.69% GMEXICO 200.02 ▲ 0.23% FEMSA 223.27 ▼ 2.64% CEMEX 22.64 ▲ 1.98% GFNORTE 183.98 ▼ 1.19% BIMBO 57.50 ▲ 2.02% TELEVISA 9.60 ▲ 0.73% AMX 22.80 ▼ 0.22% GAP 398.24 ▲ 0.75% ASUR 283.46 ▲ 2.85% OMA 234.61 ▼ 0.17% KOF 177.25 ▼ 1.47% GRUMA 280.76 ▲ 0.49% KIMBER 38.73 ▲ 0.75% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 78,550 ▲ 1.00% GGAL 8,205 ▲ 3.73% PAMPA 5,240 ▲ 0.19% TXAR 668.00 ▲ 0.91% ALUAR 959.50 ▲ 1.11% TGS 9,750 ▲ 0.41% CEPU 2,344 ▲ 0.73% MIRGOR 16,975 ▲ 1.34% COME 45.63 ▼ 0.26% LOMA NEGRA 3,615 ▲ 2.34% BYMA 304.25 ▲ 1.08% TELECOM ARG 4,315 ▼ 0.40% ECOPETROL 15.98 ▼ 1.11% BANCOLOMBIA 81.55 ▼ 0.67% GRUPO AVAL 5.03 ▲ 1.62% CREDICORP 398.20 ▲ 1.52% SOUTHERN COPPER 181.54 ▼ 0.46% BUENAVENTURA 30.71 ▼ 1.03% MERCADOLIBRE 1,843 ▼ 1.64% NUBANK 13.88 ▼ 0.79% XP 16.87 — 0.00% PAGSEGURO 9.21 ▼ 0.75% STONE 11.28 ▼ 0.18% GLOBANT 31.98 ▲ 3.43% TECNOGLASS 45.67 ▲ 3.26% GAP AIRPORT 228.15 ▲ 0.97% ASUR 283.46 ▲ 2.85% OMA AIRPORT 107.90 ▲ 0.24% AMX ADR 26.11 ▼ 0.27% FEMSA ADR 128.77 ▼ 3.30% CEMEX ADR 13.07 ▲ 2.11% PETROBRAS ADR 17.86 ▼ 0.33% VALE ADR 14.67 ▲ 0.55% ITAU ADR 8.45 ▼ 1.17% SANTANDER BR 5.35 ▼ 0.74% AMBEV ADR 3.03 ▼ 1.94% CSN 1.04 ▲ 0.49% GERDAU 4.80 ▲ 4.12% LATAM ADR 54.87 ▲ 2.54% BTC 64,087 ▼ 0.97% ETH 1,885 ▼ 1.67% SOL 76.11 ▼ 1.49% XRP 1.11 ▼ 0.59% BNB 577.03 ▼ 0.53% ADA 0.16 ▼ 1.88% DOGE 0.07 ▼ 1.15% AVAX 6.58 ▼ 1.73% LINK 8.43 ▼ 1.26% DOT 0.84 ▼ 0.88% LTC 44.66 ▼ 1.03% BCH 221.64 ▼ 0.68% TRX 0.32 ▼ 0.39% XLM 0.19 ▲ 0.55% HBAR 0.07 ▼ 1.19% NEAR 2.02 ▼ 2.23% ATOM 1.54 ▼ 1.19% AAVE 94.52 ▼ 1.37% SELIC 14.25% EMBRAER 82.35 ▼ 0.17% EMBRAER ADR 64.90 ▼ 0.02% JBS 12.10 ▲ 2.28% JBS BDR 61.43 ▲ 2.81% MBRF3 15.40 ▼ 4.29% MBRFY 2.87 ▼ 8.60% INTER 5.62 ▼ 1.40% EGX 52,894 ▲ 0.64% USD/ZAR16.36▲ 0.15% USD/NGN 1,379 — 0.00% NIKKEI 66,836 ▼ 2.79% CSI300 4,698 ▼ 1.85% HSI 25,009 ▲ 1.33% NIFTY 24,060 ▼ 0.08% KOSPI 6,821 ▼ 6.37% JCI 6,108 ▲ 1.10% USD/JPY162.19— 0.00% USD/CNY6.77▼ 0.03% DAX 24,877 ▼ 0.49% CAC 8,337 ▼ 0.55% FTSE 10,479 ▼ 0.35% MIB 52,256 ▼ 0.30% IBEX 19,223 ▼ 0.27% STOXX 640.22 ▼ 0.39% EUR/USD 1.1468 — 0.00% GBP/USD1.35▲ 0.83% SPX 7,572 ▲ 0.38% DJI 52,659 ▲ 0.29% NDX 29,503 ▼ 0.28% RUT 2,976 ▲ 0.39% TSX 35,416 ▲ 0.27% VIX 15.85 ▲ 1.15% USD/CAD1.40▼ 0.03% US10Y 4.5450 ▼ 0.87% IBOV 176,010.90 ▼ 0.36% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,291,246 ▲ 1.92% COLCAP 2,292.03 ▼ 0.29% BVL PERÚ 57,174.37 — — USD/BRL 5.08 ▼ 0.07% USD/MXN 17.41 ▲ 0.13% USD/CLP 925.20 ▼ 0.09% USD/COP 3,218 ▼ 1.31% USD/PEN 3.39 ▲ 0.08% USD/ARS 1,475 ▼ 0.05% USD/UYU 40.15 ▲ 1.04% USD/PYG 6,039 ▲ 1.28% USD/BOB 10.65 ▲ 5.99% USD/DOP 58.36 ▲ 0.19% USD/CRC 447.49 ▲ 0.88% USD/GTQ 7.62 ▲ 2.09% USD/HNL 26.73 ▼ 0.01% USD/NIO 36.62 ▲ 0.34% USD/VES 725.63 ▲ 0.11% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 0.44% USD/TTD 6.76 ▲ 1.56% EUR/BRL 5.82 ▲ 0.21% BRENT 84.58 ▼ 0.44% WTI 79.45 ▼ 0.19% IRON ORE 161.91 — — COPPER 6.39 ▲ 1.60% GOLD 4,037 ▼ 0.18% SILVER 57.11 — 0.00% SOY 1,206 ▲ 0.27% CORN 472.25 ▲ 5.53% WHEAT 685.00 ▲ 1.11% COFFEE 320.00 ▼ 4.32% SUGAR 14.52 ▼ 2.22% ORANGE JUICE 140.45 ▲ 0.14% COTTON 80.82 ▲ 0.32% COCOA 5,737 — 0.00% BEEF 226.00 ▼ 2.34% CATTLE 349.95 ▲ 0.33% LITHIUM 71.06 ▼ 0.73% PETR4 40.59 ▼ 0.17% VALE3 74.51 ▲ 0.68% ITUB4 43.14 ▼ 1.12% BBDC4 18.60 ▼ 0.16% ABEV3 15.57 ▼ 1.52% BBAS3 20.55 ▼ 0.19% B3SA3 15.69 ▲ 2.35% WEGE3 44.26 ▲ 0.14% PRIO3 57.50 ▼ 0.12% SUZB3 41.48 ▲ 0.90% RENT3 40.35 ▼ 0.47% AZZA3 18.66 ▼ 1.01% CSAN3 3.93 ▲ 1.03% RAIZ4 0.29 ▼ 6.45% PCAR3 2.62 ▲ 6.94% GMAT3 3.98 ▲ 0.51% PSSA3 55.22 ▲ 1.71% CVCB3 1.34 ▼ 2.90% POSI3 3.95 ▼ 1.00% SLCE3 13.50 ▼ 2.24% NATU3 8.67 ▲ 1.40% BRKM5 6.41 ▼ 6.15% RANI3 7.98 ▼ 0.37% CSNA3 5.24 ▲ 0.77% CMIN3 5.24 ▲ 2.75% USIM5 8.20 ▼ 0.36% GGBR4 24.20 ▲ 3.77% ENEV3 26.95 ▼ 0.81% CPFE3 46.83 ▼ 0.78% CMIG4 11.15 ▼ 0.45% EQTL3 40.33 ▼ 1.51% LREN3 14.10 ▼ 1.33% VIVT3 35.47 ▼ 0.14% RAIL3 14.07 ▼ 0.42% KLABIN 17.39 ▲ 0.40% RAIA DROGASIL 18.67 ▲ 0.38% RDOR3 36.01 ▼ 0.11% HAPV3 10.99 ▼ 1.79% FLRY3 16.51 ▲ 0.61% SMTO3 15.53 ▼ 3.66% UGPA3 31.10 ▲ 3.29% VBBR3 33.75 ▲ 1.35% BBSE3 40.71 ▲ 0.79% BPAC11 57.04 ▼ 1.57% CURY3 32.73 ▼ 2.56% AERI3 2.02 ▼ 2.42% VIVARA 23.52 ▲ 0.38% COMPASS 25.11 ▼ 0.36% VAMOS 3.12 ▼ 0.95% SANB11 27.00 ▼ 1.24% ASAI3 8.66 — 0.00% SBSP3 29.98 ▼ 1.19% WALMEX 49.61 ▲ 0.69% GMEXICO 200.02 ▲ 0.23% FEMSA 223.27 ▼ 2.64% CEMEX 22.64 ▲ 1.98% GFNORTE 183.98 ▼ 1.19% BIMBO 57.50 ▲ 2.02% TELEVISA 9.60 ▲ 0.73% AMX 22.80 ▼ 0.22% GAP 398.24 ▲ 0.75% ASUR 283.46 ▲ 2.85% OMA 234.61 ▼ 0.17% KOF 177.25 ▼ 1.47% GRUMA 280.76 ▲ 0.49% KIMBER 38.73 ▲ 0.75% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 78,550 ▲ 1.00% GGAL 8,205 ▲ 3.73% PAMPA 5,240 ▲ 0.19% TXAR 668.00 ▲ 0.91% ALUAR 959.50 ▲ 1.11% TGS 9,750 ▲ 0.41% CEPU 2,344 ▲ 0.73% MIRGOR 16,975 ▲ 1.34% COME 45.63 ▼ 0.26% LOMA NEGRA 3,615 ▲ 2.34% BYMA 304.25 ▲ 1.08% TELECOM ARG 4,315 ▼ 0.40% ECOPETROL 15.98 ▼ 1.11% BANCOLOMBIA 81.55 ▼ 0.67% GRUPO AVAL 5.03 ▲ 1.62% CREDICORP 398.20 ▲ 1.52% SOUTHERN COPPER 181.54 ▼ 0.46% BUENAVENTURA 30.71 ▼ 1.03% MERCADOLIBRE 1,843 ▼ 1.64% NUBANK 13.88 ▼ 0.79% XP 16.87 — 0.00% PAGSEGURO 9.21 ▼ 0.75% STONE 11.28 ▼ 0.18% GLOBANT 31.98 ▲ 3.43% TECNOGLASS 45.67 ▲ 3.26% GAP AIRPORT 228.15 ▲ 0.97% ASUR 283.46 ▲ 2.85% OMA AIRPORT 107.90 ▲ 0.24% AMX ADR 26.11 ▼ 0.27% FEMSA ADR 128.77 ▼ 3.30% CEMEX ADR 13.07 ▲ 2.11% PETROBRAS ADR 17.86 ▼ 0.33% VALE ADR 14.67 ▲ 0.55% ITAU ADR 8.45 ▼ 1.17% SANTANDER BR 5.35 ▼ 0.74% AMBEV ADR 3.03 ▼ 1.94% CSN 1.04 ▲ 0.49% GERDAU 4.80 ▲ 4.12% LATAM ADR 54.87 ▲ 2.54% BTC 64,087 ▼ 0.97% ETH 1,885 ▼ 1.67% SOL 76.11 ▼ 1.49% XRP 1.11 ▼ 0.59% BNB 577.03 ▼ 0.53% ADA 0.16 ▼ 1.88% DOGE 0.07 ▼ 1.15% AVAX 6.58 ▼ 1.73% LINK 8.43 ▼ 1.26% DOT 0.84 ▼ 0.88% LTC 44.66 ▼ 1.03% BCH 221.64 ▼ 0.68% TRX 0.32 ▼ 0.39% XLM 0.19 ▲ 0.55% HBAR 0.07 ▼ 1.19% NEAR 2.02 ▼ 2.23% ATOM 1.54 ▼ 1.19% AAVE 94.52 ▼ 1.37% SELIC 14.25% EMBRAER 82.35 ▼ 0.17% EMBRAER ADR 64.90 ▼ 0.02% JBS 12.10 ▲ 2.28% JBS BDR 61.43 ▲ 2.81% MBRF3 15.40 ▼ 4.29% MBRFY 2.87 ▼ 8.60% INTER 5.62 ▼ 1.40% EGX 52,894 ▲ 0.64% USD/ZAR 16.34 ▲ 0.34% USD/NGN 1,379 — 0.00% NIKKEI 66,836 ▼ 2.79% CSI300 4,698 ▼ 1.85% HSI 25,009 ▲ 1.33% NIFTY 24,060 ▼ 0.08% KOSPI 6,821 ▼ 6.37% JCI 6,108 ▲ 1.10% USD/JPY 162.16 ▲ 0.02% USD/CNY 6.7668 ▲ 0.13% DAX 24,877 ▼ 0.49% CAC 8,337 ▼ 0.55% FTSE 10,479 ▼ 0.35% MIB 52,256 ▼ 0.30% IBEX 19,223 ▼ 0.27% STOXX 640.22 ▼ 0.39% EUR/USD 1.1468 — 0.00% GBP/USD 1.3509 ▼ 0.21% SPX 7,572 ▲ 0.38% DJI 52,659 ▲ 0.29% NDX 29,503 ▼ 0.28% RUT 2,976 ▲ 0.39% TSX 35,416 ▲ 0.27% VIX 15.85 ▲ 1.15% USD/CAD 1.4042 ▲ 0.04% US10Y 4.5450 ▼ 0.87%
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Thursday, July 16, 2026

Defense Monitor

10 Key Military and Defense Developments in Latin America (November 2–9, 2025)

· Sunday, November 9, 2025 · 4 min read

The week was defined by Washington’s expanded maritime strike campaign against alleged traffickers and a visible U.S. basing footprint in Central America, feeding regional diplomatic pushback and sovereignty debates.

Domestic security operations—from Rio de Janeiro to Catatumbo—continued to blur the line between policing and warfighting, with high casualty counts and renewed scrutiny of tactics and suppliers.

Procurement signals in Argentina and Chile hinted at medium-term capability shifts at sea and in the air.

Items are ranked for geopolitical impact: cross-border risk, great-power involvement, escalation potential, and force-structure consequences.

Highlights include the U.S. AC-130J operating from El Salvador, Brazil’s post-raid fallout, Ecuador’s openness to deeper U.S. security presence, and Argentina’s submarine and fighter timelines.

The brief spotlights what matters for planners and investors: shifting maritime posture in the Caribbean/Eastern Pacific, fragile ceasefire politics in Colombia, and procurement choices that will shape South America’s order of battle through the late 2020s.

U.S. maritime strikes expand; AC-130J flies from El Salvador (Nov 6–7)

U.S. forces reported another lethal strike on a suspected smuggling boat as open-source reporting showed an AC-130J, a Navy P-8A, and a C-40 operating out of El Salvador. The platform mix points to persistent maritime ISR and rapid strike options on both Caribbean and Pacific routes. Forward basing shortens interdiction response times and complicates evasion tactics by traffickers.

Summary: Forward basing in El Salvador tightens U.S. interdiction timelines and raises escalation risks with coastal states.

Moscow and Caracas decry campaign as build-up persists (Nov 7)

Russia warned against escalation while U.S. media detailed additional aircraft staging and an emerging congressional debate over authorities. Caracas amplified legal objections at the U.N., framing the strikes as violations of sovereignty. Venezuelan officials sought regional backing even as U.S. patrol tempo remained steady.

Summary: External backing for Venezuela hardens diplomatic lines even as U.S. operations continue.

10 Key Military and Defense Developments in Latin America (November 2–9, 2025)
10 Key Military and Defense Developments in Latin America (November 2–9, 2025)
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Rio’s record raid reverberates: inquiry calls and kit scrutiny (Nov 4–7)

After October’s operation that left at least 121 dead, Brazil’s federal leadership pressed for an independent probe. Separate reporting tied U.S.-made sniper rifles to a police unit involved, prompting fresh oversight questions. State officials defended rules of engagement as rights groups pressed for transparency and chain-of-custody reviews.

Summary: The case spotlights human-rights exposure and supplier risk in Brazil’s security market.

Ecuador entertains U.S. Homeland Security presence (Nov 5)

DHS leadership visited “strategic” sites as Quito explored deeper cooperation amid sustained anti-gang operations and a mid-November security referendum. Discussions covered intelligence sharing, border and port scanning, and training for vetted units. Any presence would likely be limited and advisory but symbolically significant.

Summary: Limited U.S. footprint in Ecuador would bolster regional interdiction and training ties.

Argentina advances Scorpène deal; first F-16 batch timeline set (Nov 5–7)

Buenos Aires signaled movement on French-built Scorpène-class submarines while local reporting pointed to the first F-16s transiting in late November or early December. The dual track suggests a phased rebuild of undersea and air combat capacity after years of attrition. Financing, training, and industrial participation terms remain to be finalized.

Summary: Sub-surface and fighter renewals would markedly raise Argentina’s deterrence and patrol capacity.

Chile eyes airlift recapitalization; C-390 in the frame (Nov 5)

With aging transports nearing retirement, Santiago scoped at least ten replacements to restore lift and medevac reliability. Brazil’s C-390 Millennium emerged as a strong candidate alongside legacy Western platforms. Decision timing overlaps major maintenance deadlines, increasing pressure for a near-term award.

Summary: A modern transport fleet would expand Chile’s mobility for disaster response and joint ops.

Bogota reopens door to ELN talks as Catatumbo war grinds on (Nov 2)

Colombia signaled readiness to re-engage the ELN even as fighting and displacement persisted in Catatumbo and other hotspots. Revised estimates also pointed to larger illegal-armed-group headcounts and diversified revenue streams. Local authorities face mounting humanitarian strain while commanders weigh incentives for localized ceasefires.

Summary: Peace prospects hinge on battlefield dynamics that currently favor continued militarization.

Caribbean angst grows after latest U.S. strike (Nov 6)

Families in Trinidad and Tobago demanded answers over nationals reportedly killed at sea, bringing the campaign’s human-cost claims into CARICOM politics. Governments requested clarifications on rules of engagement and notification protocols. Opposition parties and civil groups urged transparency, consular access, and identification support.

Summary: Collateral-harm narratives erode regional support for U.S. operations.

Haiti security track: OAS urges urgency; mission pivots (Nov 5)

The OAS urged urgency as the Multinational Security Support mission in Haiti shifts toward a more robust Gang Suppression Force concept. Planners emphasized training pipelines, logistics, and command arrangements to avoid fragmentation. Donor timelines and rules of engagement remain unsettled, complicating deployment.

Summary: Without more personnel and funding, the rebrand risks falling short of stabilizing Port-au-Prince.

Reported U.S. JSOC option for Mexico revives sovereignty debate (Nov 4–5)

U.S. media reported Washington was studying a potential special-operations option against high-value cartel targets near the border. Mexican officials pushed back publicly, citing constitutional constraints and political costs. Defense leaders argued they can intensify domestic operations without foreign troops on Mexican soil.

Summary: Even planning signals add friction to bilateral security cooperation and could spur Mexican force posture adjustments.

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