2023 was marked by an unprecedented migratory hemorrhage, Venezuelan dictator Nicolas Maduro's threats of war against Guyana, an attempted coup in Guatemala, religious persecution in Nicaragua and the overwhelming victory of Javier Milei in Argentina.

The Economic Commission for Latin America and the Caribbean expects the region to maintain a low growth rate: 1.4 percent for South America, 2.7 percent for Central America and Mexico, and 2.6 percent for the Caribbean.

In 2023, overall inflation in the region was 3.8 percent, much lower than the 8.2 percent recorded in 2022. This year, the decline in the inflation rate is expected to continue. The average regional inflation rate is expected to be 3.2 percent.

The new year will be marked by five regional elections. Mexico, El Salvador, Panama, the Dominican Republic and Uruguay will all elect new presidents. Even Venezuela could go to the ballots, although real and credible elections are unlikely.

In Argentina, the left-wing unions and picketers will not give Milei any respite. The libertarian head of state will have to demonstrate political skill and Solomonic wisdom to deal with Argentina's anemic economy and the violent opposition he faces in the streets and in the parliament.

Meanwhile, Milei is showing signals of an outstanding foreign policy. He already announced that Argentina will not be part of the economic group known as BRICS (Brazil, Russia, India, China and South Africa) and announced that his administration will not send ambassadors to the regimes in Cuba, Nicaragua and Venezuela. His firm and clear example will tip the scale in the international........

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