Electoral processes in Latin America point to significant changes in regional political dynamics

Latin American Keys is an informative and analytical summary regarding the political and economic situation in the Latin American region. These key takeaways, prepared monthly by ATREVIA´s Analysis and Research team, serve to be a useful tool in understanding the evolution of the political-institutional state of Latin America, a need that the pandemic has further exaggerated.

Javier Milei emerged as the winner in the second round of the Argentine presidential elections, surpassing his opponent by over 11 percentage points. A resounding victory that marks a significant change in the political, economic, and social landscape of the country due to the high-impact reforms outlined during the campaign, such as dollarization and minimizing state intervention in the economy. This event, along with the setback suffered by the left in the regional elections in Colombia, indicates an evolving regional political dynamic.

The president of Colombia, Gustavo Petro, faces growing public disapproval of his administration, a situation shared by his Peruvian counterpart due to the perceived governmental inaction towards the economic crisis in a country that has officially entered into a recession.

Electoral processes are advancing in Mexico and Uruguay in preparation for the 2024 elections, with the definition of precandidates and the expectation of whether they will be affected by the Milei phenomenon. The Libertarian Party has already registered in the latter.

An important electoral event will take place earlier in Chile, with the holding of a referendum to vote on a new Constitution proposal. Surveys suggest that this second attempt will meet the same fate as the first and will be widely rejected by voters.

Political instability also persists in Bolivia, where the rift within the ruling party, the MAS, is deepening, with intense clashes between the faction of Evo Morales and that of the current president, Luis Arce, recently expelled from the movement. It remains to be seen whether Ecuador will achieve the desired stability after Daniel Noboa assumes the presidency at the end of November, with an agenda focused on security, employment, and attracting foreign investment.

Finally, Brazil, with optimistic economic figures, took a legislative step to simplify its complex tax system, unifying five taxes into a VAT, a tax that the country still does not have.

Click here to access the Latin American Keys summary.

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