• Research
  • Emissary
  • About
  • Experts
Carnegie Global logoCarnegie lettermark logo
Democracy
  • Donate
{
  "authors": [
    "Moisés Naím"
  ],
  "type": "commentary",
  "centerAffiliationAll": "dc",
  "centers": [
    "Carnegie Endowment for International Peace"
  ],
  "collections": [
    "The Day After: Navigating a Post-Pandemic World"
  ],
  "englishNewsletterAll": "",
  "nonEnglishNewsletterAll": "",
  "primaryCenter": "Carnegie Endowment for International Peace",
  "programAffiliation": "DCG",
  "programs": [
    "Democracy, Conflict, and Governance"
  ],
  "projects": [],
  "regions": [],
  "topics": []
}

Source: Getty

Commentary

View From Latin America

Latin America faces a critical test: Can it overcome economic crisis without sinking into democratic dysfunction?

Link Copied
By Moisés Naím
Published on Sep 9, 2020
Program mobile hero image

Program

Democracy, Conflict, and Governance

The Democracy, Conflict, and Governance Program is a leading source of independent policy research, writing, and outreach on global democracy, conflict, and governance. It analyzes and seeks to improve international efforts to reduce democratic backsliding, mitigate conflict and violence, overcome political polarization, promote gender equality, and advance pro-democratic uses of new technologies.

Learn More

Even before the coronavirus pandemic hit, Latin America’s beleaguered economies had brought the region to a crisis point. Plummeting prices of export commodities, falling revenues from remittances and tourism, adverse financial markets, massive capital flight, currency devaluations, and high indebtedness led to a perfect storm of soaring unemployment, greater poverty, and ballooning government deficits.

The pandemic will only exacerbate this dire state of affairs. Latin America’s health systems are grossly inadequate. Ultrapopulist leaders such as Brazil’s Jair Bolsonaro and Mexico’s Andrés Manuel López Obrador—whose two countries account for half of the region’s population and economic output—have not only denied the severity of the pandemic but also actively undermined their own government’s response. Asked about soaring COVID-19 deaths, Bolsonaro replied, “So what? I’m sorry. What do you want me to do?” López Obrador insisted that the coronavirus could be neutralized with amulets.

The region’s economic crisis has left even responsible presidents constrained.

The region’s economic crisis has left even responsible presidents constrained. According to the United Nations, the combination of an acute global economic slowdown and Latin America’s preexisting woes will cause the region’s most severe recession since 1914 and 1930.

What political consequences will these twin challenges have on a region that has struggled for more than forty years not to slip back into cycles of breakdown and repair? Typically, the burdens of belt-tightening have fallen disproportionately on the poor, who are pushed deeper into poverty by joblessness, inflation, and draconian cuts in public budgets and social safety nets. This time around, however, the poor will not shoulder the downturn alone. They will be joined by the largest middle class the region has ever had, as tens of millions have been lifted out of poverty in the past twenty years.

Fighting to retain its newfound standard of living is something that this precarious, incipient middle class knows how to do. Its members are highly connected, better informed, and energized. They are adroit in staging demonstrations to defend their rights and demand economic relief. Street protests in Brazil, Chile, Guatemala, and Peru have catalyzed dramatic changes in public policies and even succeeded in ousting presidents.

The geopolitical backyard of the United States is about to enter a turbulent period in which its democracies are tested as never before.

The geopolitical backyard of the United States is about to enter a turbulent period in which its democracies are tested as never before. After the Great Depression, Latin America endured painful decades of military dictatorships. It could again become the land of presidents for life, military juntas, stealthy autocracies, disappeared dissidents, and torture chambers. The region’s leaders—and the world’s democracies—must do everything they can to prevent such bleak outcomes from becoming realities.

About the Author

Moisés Naím

Distinguished Fellow

Moisés Naím is a distinguished fellow at the Carnegie Endowment for International Peace, a best-selling author, and an internationally syndicated columnist.

    Recent Work

  • Research
    The World Reacts to Biden’s First 100 Days
      • +10

      Rosa Balfour, Frances Z. Brown, Yasmine Farouk, …

  • In The Media
    Venezuela Is Falling Apart

      Moisés Naím, Francisco Toro

Moisés Naím
Distinguished Fellow
Moisés Naím

Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

More Work from Carnegie Endowment for International Peace

  • Commentary
    India’s Path to the Big Leagues

    India can play a larger role on the world stage, but it must first restore its economic momentum and liberal credentials.

      Ashley J. Tellis

  • Commentary
    A Coming Decade of Arab Decisions

    As the old order in the Arab world collapses, the region needs governance that can resolve its crises and harness its potential.

      Marwan Muasher, Maha Yahya

  • Commentary
    Reckoning With a Resurgent Russia

    The greatest obstacle to countering Russia’s hard-edged foreign policy has been the West’s incoherent response.

      Andrew S. Weiss, Eugene Rumer

  • Commentary
    A U.S. Foreign Policy for the Middle Class

    The United States must secure the benefits of a globalized economy while protecting itself from systemic shocks and supporting the economic renewal of middle-class communities.

      Rozlyn C. Engel

  • Commentary
    Asia’s Future Beyond U.S.-China Competition

    Beijing and Washington are competing to set Asia’s rules, norms, and standards. But other countries in the region are increasingly choosing to shape its future themselves.

      Evan A. Feigenbaum

Get more news and analysis from
Carnegie Endowment for International Peace
Carnegie global logo, stacked
1779 Massachusetts Avenue NWWashington, DC, 20036-2103Phone: 202 483 7600Fax: 202 483 1840
  • Research
  • Emissary
  • About
  • Experts
  • Donate
  • Programs
  • Events
  • Blogs
  • Podcasts
  • Contact
  • Annual Reports
  • Careers
  • Privacy
  • For Media
  • Government Resources
Get more news and analysis from
Carnegie Endowment for International Peace
© 2026 Carnegie Endowment for International Peace. All rights reserved.