The ideological balance in Latin America has witnessed a shift towards center-left politics, although it lacks the robustness seen a decade and a half ago.
Recent victories of center-left leaders, such as Gustavo Petro in Colombia and Luiz Inácio Lula da Silva in Brazil, indicate this trend.
However, governments that identify as center-left also prioritize fiscal balance, as seen in Gabriel Boric’s administration in Chile.
Latin American citizens currently display no clear allegiance to any particular ideological tendency, often favoring sharp shifts in direction during elections.
This trend can be attributed to widespread dissatisfaction with the ruling class and traditional parties, resulting from a decade of economic stagnation in the region.
The political landscape in Latin America has become increasingly volatile, independent of the ruling party’s colors.
For instance, Ecuador is likely to witness a return of the left to power, while Argentina may shift towards center-right leadership.
These rapid political cycles are a distinct characteristic of the region.
Center-left governments have emerged victorious in major Latin American economies, including Brazil, Mexico, Argentina, Colombia, Chile, and Peru.
However, nuances exist within each case.
In Brazil, Lula’s return to power signals a pragmatic approach within the traditionally leftist PT Party.
Mexico’s center-left leader, Andrés Manuel López Obrador, emphasizes fiscal austerity and maintains an independent central bank.
Argentina’s Peronism, usually classified as center-left, has faced an economic crisis and seen a rise in center-right influences within the government.
Colombia has experienced its first left-leaning government under Gustavo Petro.
Chile’s center-left government, led by Gabriel Boric, focuses on fiscal balance and seeks consensus with the opposition.
Peru’s political landscape is complex, with a left-leaning winner replaced by a center-right leader due to a self-coup attempt.
Looking ahead, Ecuador and Argentina might undergo political turnarounds.
Ecuador’s recent political crisis may pave the way for the left-wing Correism to return to power.
In Argentina, upcoming elections feature center-right and right-leaning candidates, even as the traditional Peronist base feels conflicted about voting against their ideals.
Guatemala faces an open scenario in which either center-right or center-left/left candidates could win the presidency, following Alejandro Giammattei’s departure.
The axis of the hard left in Latin America includes Cuba, Venezuela and Nicaragua, and to a lesser extent, but with a different formula, Bolivia.
Cuba remains under the rule of the Communist Party, while Venezuela’s Nicolás Maduro succeeded Hugo Chávez.
Daniel Ortega continues to govern Nicaragua since 2007.
In other Latin American countries, Costa Rica is led by a center-right economist, El Salvador by a center-right/right economist, Honduras by a center-left leader, Panama by a social democrat, and Paraguay by a center-right economist.
The Dominican Republic’s president represents a spectrum of forces, ranging from pro-business and center-right tendencies to support for social causes and minorities.
Uruguay is governed by a center-right and pro-market leader.
Latin America’s ideological map is subject to frequent changes, reflecting the dynamic nature of its politics.