SÃO PAULO — Latin America’s political landscape in 2022 was dramatic. Colombia and Brazil presented nail-biting and course-altering elections, instability deepened in Peru, and democratic backsliding continued, particularly in Central America. Meanwhile, the region’s 2022 growth rate is expected to land at 3.5%—slightly above the global 3.2% average and only a modest recovery from the economic carnage of the pandemic.
Looking ahead to 2023, the region can expect continued instability.
First, the global macroeconomic and geopolitical environment is unlikely to improve much, which will impact the region deeply. Mediocre growth in Latin America—currently expected to fall to a meagre 1.7% in 2023, according to the IMF—is likely to keep public discontent high and the approval ratings of the region’s…
