The modernisation of South American navies has been curtailed by the long-term effects of the 2008 financial crisis, with the planned acquisition of new equipment either delayed or cancelled. Moreover, with the Covid-19 pandemic still playing out, it is unclear how the region's defence budgets will be further affected. However, despite these challenges, naval ambitions have not been curtailed. South American navies are doing their best to preserve their capabilities and proceed with as many acquisition programmes as possible. So far, projects that are already under way have mostly been spared the axe, although many future programmes have been compromised.
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