Cuban migrants at the border between Costa Rica and Nicaragua,, Nov. 16, 2015 (AP photo by Esteban Felix).

Amid the wave of migrants fleeing to the United States from El Salvador, Honduras and Guatemala—collectively referred to as Central America’s Northern Triangle—another migration crisis is unfolding farther south. The Central American isthmus is increasingly becoming a pressure point for migrants from around the world, whether Cubans attempting to reach the U.S.-Mexico border via a circuitous route that begins in Ecuador, or migrants from Africa and South Asia who have been shut out of Europe and look instead to entry points in South America that lead north. The influx is not only straining the resources of countries in southern Central […]

A rally against government job cuts, the elimination of subsidies and other policies of Argentina’s president, Mauricio Macri, Buenos Aires, Sept. 2, 2016 (AP photo by Agustin Marcarian).

Over the past few decades, Latin America became the very public incubator of new economic models—or at least of flamboyant variations on old ones. For a while, it seemed as if the region might just give birth to some kind of a successful hybrid: a populist, leftist formula for expanding economies and erasing poverty, powered by the free market and assertively steered by governments. But those days are gone, and they’re exiting the stage with the same bombast and drama with which they burst onto it. No one would suggest that the so-called 21st Century Socialism concocted by the late […]

Mexican President Enrique Pena Nieto, center, and former Finance Minister Luis Videgaray, far left, during a swearing-in ceremony at the presidential residence in Mexico City, Sept. 7, 2016 (AP photo by Dario Lopez-Mills).

On Sept. 7, Mexican President Enrique Pena Nieto announced the resignation of Finance Minister Luis Videgaray and appointed Jose Antonio Meade, a reputable technocrat, as his replacement. Since Videgaray had been instrumental in organizing Republican presidential nominee Donald Trump’s controversial visit to Mexico City late last month, most coverage framed his exit as the fallout. But Videgaray’s resignation had more to do with a longer track record of failing to deliver on ambitious economic and structural reforms. It was the latest upheaval in Pena Nieto’s Cabinet at a time when the Mexican economy faces mediocre growth, mounting debt and a […]