Latin America News

By Steve Hanke The real problem that plagues most Latin American countries — and a contributing cause of the current political unrest —  is the fact that they have central banks that issue half-baked local currencies. Although widespread today, central banks are relatively new institutional arrangements. In 1900, there were only 18 central banks in...

Argentine President Mauricio Macri conceded defeat to his center-left rival Alberto Fernandez late Sunday after the first round of voting in the country’s closely fought election. Voters turned out in numbers to reject the austerity measures introduced by Macri as the country attempts to dig itself out of a deep economic crisis. Inflation has ballooned...

Evo Morales has narrowly won a controversial fourth presidential term just as tens of thousands of Bolivians marched in the administrative capital, La Paz, and cities across the country on the fourth day of protests decrying alleged voter fraud. With 99.99% of the official vote counted, Morales won 47.07%, fractionally clearing the 10-point margin he...

By Paige Sutherland and Mark Katkov Chile’s President Sebastián Piñera acknowledged government failures and announced economic reforms late Tuesday, in a move to restore calm amid widespread and sometimes violent protests over economic inequality. In a nationally televised address, Piñera said he is listening to the people and apologized that Chile’s governments, including his own,...

By Laura Millan Lombrana and Sebastian Boyd Just weeks before the worst civil unrest since Chile returned to democracy 29 years ago, President Sebastian Pinera described the country as “a true oasis” amid Latin American turmoil. The billionaire investor-turned-politician isn’t alone in his glowing assessment of a country that regularly tops regional prosperity metrics. However,...

By Mat Youkee Protests have broken out across Bolivia after the country’s electoral authorities said that president Evo Morales was close to winning an outright victory in his bid for a historic fourth term in office. The country’s electoral body abruptly stopped releasing election returns late on Sunday, prompting opponents to suggest that officials were...

By Eva Vergara Protests and violence in Chile spilled over into a new day and raged into Sunday night despite the president cancelling a subway fare hike that has prompted violent demonstrations. Officials in the Santiago region said three people died in fires at two looted supermarkets early Sunday — among 60 Walmart-owned outlets that...

Bolivia’s president, Evo Morales, was ahead in the first round of the nation’s presidential election, but he appeared to have failed to get enough votes to avoid a runoff in the tightest political race of his life. The Andean country’s top electoral authority said on Sunday night that a preliminary count of 84% of the...

By John Bartlett A state of emergency has been declared in the Chilean capital after simmering protests against a rise in metro fares spilled out into widespread vandalism and violence fuelled by rising cost-of-living pressures. As ordained by Chile’s dictatorship-era constitution, the state of emergency will apply to Santiago and can last for 15 days....

By Charlotte Mitchell Walk into any tourist shop in Bolivia and alongside postcards of colonial cathedrals and mist over the moonlit desert, you will see him. Evo Morales, with his shock of black hair and brightly embroidered jackets and ponchos, has ruled the landlocked Andean country for so long that for many, a Bolivia without...