An overcrowded population in crowded megacities, poor transportation, crumbling infrastructure, and inadequate medical care meant that Latin America had a difficult Covid-19 pandemic.
And recovery has also been complicated.
Investors never had much faith in the region's politicians, but that faith has eroded further. The International Monetary Fund (IMF) forecasts regional growth of 3.5% this year, slowing to 1.7% in 2023.
According to IMF estimates, Latin America's share of global GDP will fall to 7.3% this year from 8.5% a decade ago and is likely to decline further.