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Putting Latin America back on the map: consolidation of democratic institutions is a vital part of Latin America's recovery.(POINT OF VIEW)

Publication: Finance & Development
Publication Date: 01-DEC-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
THE U.S. National Intelligence Council, in its "Mapping the Global Future"--a widely cited study on global trends shaping the world of 2020--concludes that the 21st century will be the Asian Century, with the rise of India and China as world powers. The report, which drew on the advice of on...

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...over 1,000 experts three continents, barely makes mention of Latin America. Outside of Canada and the United States, and occasional references to Brazil as a rising economic power, the countries of the Western Hemisphere south of the Rio Grande appear once again to have been sidelined by the dramatic changes of an increasingly globalized world. In addition, many observers argue that Latin American democracies are weak and unresponsive and that economic reforms have failed to generate substantial growth or reduce glaring income inequalities--the highest of any continent.

In my view, this portrait of the state of Latin America is overly pessimistic and downplays significant progress in the past quarter of a century. Until the 1980s, most countries in the region were governed by repressive authoritarian regimes that were incapable of implementing the far-reaching economic and political reforms they promised when seizing power at a time of political polarization...

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