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LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

December 24, 2025

What Will Be Latin America’s Biggest Changes in 2026?

Among the major shifts in Latin America in the coming year will be the change in government in Chile, where conservative José Antonio Kast takes office as president in March. // File Photo: HazteOir.org via CC BY-SA 2.0.

Q

  • The past year in Latin America and the Caribbean was marked by several major developments, including seismic political shifts and a heightened focus on the region by the administration of U.S. President Donald Trump. This year, the U.S. military has publicly announced that it has destroyed 28 allegedly drug-laden vessels in the Caribbean and eastern Pacific, killing 104 people; periods of left-wing rule came to an end in Bolivia and Chile after elections ushered in right-wing presidents; and Venezuelan opposition leader María Corina Machado was awarded the Nobel Peace Prize. What will be the most significant developments in Latin America and the Caribbean in 2026? Which countries will see the most political and business risk next year? How will geopolitical dynamics and Latin American countries’ relationships with major world powers—namely the United States and China—evolve in the coming year?

A

Rodrigo Abud, managing director of Panorama in Monterrey, Mexico: “Latin America’s rightward shift in 2025 is not unprecedented and could continue in 2026. The region has long oscillated between left and right governments in response to economic performance, social demands and political fatigue. This reshuffling comes amid heightened geopolitical attention from Washington and strategic competition with China. While elections span much of the continent, Venezuela remains the symbolic and practical focal point, as international visibility often coincides with deep governance crises. Presidential elections in Peru, Brazil, Colombia, Costa Rica and Haiti will test recent political realignments. Campaigns will likely be polarized, with candidates either aligning with or…”

Top News

U.S. Moves More Troops, Military Equipment to Caribbean
The United States this week reportedly moved additional troops and military equipment to the Caribbean. The assets include special operations aircraft and come amid President Donald Trump’s pressure campaign against Venezuela’s government.
Bolivia Waives Restrictions on Satellite Firms
Bolivia’s president signed a decree allowing satellite companies such as Starlink to provide internet service across the country.
Colombia Declares Emergency to Impose New Taxes
Colombian President Gustavo Petro’s government declared a state of economic emergency, giving itself the temporary authority to impose new taxes.

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ABOUT THE LATIN AMERICA ADVISOR

The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
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Diego Arria
Director,
Columbus Group

Merike Blofield
Professor of Political Science,
University of Hamburg

Devry Boughner Vorwerk
CEO,
DevryBV Sustainable Strategies

Joyce Chang
Global Head of Research,
J.P. Morgan

Marlene Fernández
Corporate Vice President for Gov’t Relations,
Arcos Dorados (McDonald’s)

Peter Hakim
President Emeritus,
Inter-American Dialogue

Donna Hrinak
Director,
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Jon E. Huenemann
Council Member,
GLG Inc.

James R. Jones
Chairman,
Monarch Global Strategies

Craig Kelly
Senior Director,
Int’l Gov’t Relations,
Exxon Mobil

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

John Maisto
Director,
US Education Finance Group

Nicolas Mariscal
Chairman,
Grupo Marhnos

Thomas F. McLarty III
Chairman,
McLarty Associates

Beatrice Rangel
Director,
AMLA Consulting

Ernesto Revilla
Head of Latin American Economics, Citi

Gustavo Roosen
President,
IESA

Andrés Rozental
President, Rozental &
Asociados

Shelly Shetty
Managing Director,
Sovereigns, Fitch

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