Despite trade tensions and political uncertainty, 2025 was not a bad year for Latin America's economies, with growth of around 2.4 percent, broadly in line with post-pandemic trends. In this episode we look ahead to 2026 and analyze the outlook for the region, from fiscal pressures and a pivotal election in Brazil to uncertainty around Argentina’s recovery under Javier Milei and the evolving trade relationship between Mexico and the United States. To unpack which countries and sectors look strongest, and where the biggest risks lie, we’re joined by Nur Cristiani, head of LATAM investment strategy at J.P. Morgan’s Private Bank. 

2025 has been an extraordinarily active year for U.S. policy in Latin America. With the release of President Donald Trump’s new National Security Strategy, which places the Western Hemisphere first and promises to “reassert and enforce the Monroe Doctrine,” along with a new “Trump Corollary” aimed at countering China’s influence, the trend has become even clearer. We discuss the defining features of this assertive approach and what it means for governments, businesses, and regional stability. Our guest os Ricardo Zúniga, former principal advisor for the Americas to President Barack Obama and now founding partner at Dinámica Americas.

Right-wing candidates are gaining victories across Latin America. Chile will likely turn right in the upcoming second round of elections, Javier Milei made legislative gains in Argentina and in Bolivia recent elections ended 20 years of Movimiento al Socialismo (MAS) party leadership. With key races ahead in 2026, some analysts say the right could become the region’s dominant political force, echoing the sweeping “pink tide” of the early 2000s, but in the opposite ideological direction. Is this a historic turn, or are voters simply rejecting whoever is in power? In this episode, we debate this question with Oliver Stuenkel, Senior Fellow at the Carnegie Endowment for International Peace, and ask what it could mean for the years ahead.

Chileans head to the polls this Sunday, November 16. In the last election cycle, Gabriel Boric won following the massive 2019 protests that shook the nation to its core. At the time, it seemed Chile was set for sweeping structural change: the classic poster child for neoliberal economic policy in Latin America appeared ready to build a stronger welfare state and elect leaders from the left. Six years later, some change has occurred, but not nearly as dramatic as many expected. Efforts to rewrite the constitution were aborted twice, and the young leftist president, Gabriel Boric, is leaving office with an approval rating of just 30%. Chileans have turned their attention to other issues, especially crime, which has worsened notably over the past decade. The widespread expectation is that voters will opt for a change in power, and that Chile will join several other Latin American countries swinging to the right.

In this episode, we speak with Patricio Navia, a Chilean political scientist, about what this could mean for Chile’s economy and strategic alliances. Navia is a professor at both New York University and Universidad Diego Portales.

The recent deployment of the USS Gerald R. Ford, the U.S. Navy’s largest aircraft carrier, has intensified speculation about Washington’s true objectives in the Southern Caribbean. In this episode of the Americas Quarterly Podcast, we examine what’s really behind the Trump administration’s escalating military activity. Is it a hardline campaign against drug cartels, or the opening moves of a broader effort to pressure Venezuelan leader Nicolás Maduro? What do we know about dynamics within the Venezuelan military? And to what extent could this impact Washington’s relations with Colombia and other countries in the region? Our guest is Ryan Berg, director of the Americas Program and head of the Future of Venezuela Initiative at the Center for Strategic and International Studies.

Mexico’s Claudia Sheinbaum has hit the one-year mark of her presidency. In that time she has had to balance three key relationships: with President Donald Trump, with her still-powerful predecessor Andrés Manuel López Obrador and with the Mexican public. She faced skepticism, but has surprised many. Sheinbaum’s approval rating is at 73%, and a plurality of Mexicans said in a recent poll that her government is off to a better start than AMLO’s. Challenges loom, from fragile security gains and economic uncertainty to political dispute within her party and the ever-volatile dynamic with Washington. To assess her first year in office and what lies ahead we speak with Brenda Estefan, professor at IPADE Business School and columnist for Reforma and Americas Quarterly.

Argentina’s President Javier Milei just got a much-needed boost from his ally, U.S. President Donald Trump. The White House has signaled plans for a $20 billion swap line to contribute to Argentina’s fragile reserves—a lifeline coming just as Milei faces market turmoil, political setbacks and a corruption scandal close to home. With midterm elections set for the end of the month, the big question is whether this support can keep Milei’s project on track—or whether he’s already peaked. Our guest, political risk consultant Juan Cruz Díaz of Cefeidas Group and AS/COA, joins us to break it all down.

Latin America is entering a packed election season, with Bolivia, Chile, Costa Rica, Colombia, Peru and Brazil all set to elect presidents in the next 13 months. This is happening just as organized crime reaches unprecedented power. In several of these countries, crime is showing up in polls as the number one political issue. Security expert Lucía Dammert explains how booming cocaine production, money laundering and criminal infiltration of formal economies are reshaping politics across the region. Dammert has a unique perspective as someone who has worked in both academia and government across the region. She has a new book out, Anatomía del poder ilegal: Violencia, crimen organizado y corrupción en América Latina.

A landmark trial is underway in Brazil: former President Jair Bolsonaro, an ally of U.S. President Donald Trump, stands accused of trying to overturn the 2022 election. Alongside military officials and ex-ministers, Bolsonaro faces charges that could reshape Brazil’s political future — and reverberate globally. The U.S. has recently launched a campaign against Brazil’s judiciary in a show of support for Bolsonaro. Journalist Patricia Campos Mello joins us to unpack the case, the international stakes, and how both the right and left in Brazil are reacting to this pivotal moment.

Bolivia's long-dominant MAS party has suffered a historic defeat, with its presidential candidate winning just 3% of the vote. The result reflects deep frustration over the country’s economic crisis and political infighting. In a surprise outcome, Senator Rodrigo Paz Pereira led the first round, followed by former President Jorge “Tuto” Quiroga. The two will be in a runoff on October 19. In this episode, we speak with Bolivian journalist Raúl Peñaranda about what sets these candidates apart, the future of the MAS, and whether the next president can revive the economy while navigating the country’s deep social and regional divisions.