Bendito Benito: The Cultural is Always Political

Image Source: Heute.at

By Ernesto Castañeda

Bad Bunny’s halftime performance showed how much Latinos love America, even if some parts of America do not love them back. Performed mostly in Spanish, it showed the reality that Latinos and Spanish are part of America’s culture: its history, its present, and its future. As the performance’s references to salsa and Ricky Martin’s participation in it reminded us, Latinos’ contributions to U.S. and global culture are not a new phenomenon.

Performances like this weaken MAGA’s ideological project even without any direct references to the current administration. Most importantly, they are a reminder of what most people can see: that Latinos, Asians, and Africans are part of U.S. communities, schools, labs, and the art and music scenes.

That is why most people in the U.S. were against ICE and mass deportations before the Super Bowl halftime show. But the humanization of Puerto Ricans and brown people could have reached and created empathy or even admiration among some people who were on the fence, do not follow the news, or live in areas with few immigrants.

When Bad Bunny was announced, some said they would boycott, that ICE would be present and carry out mass arrests, that people would not watch the show, or that it would go badly. None of that happened. The hate and fearmongering just made Bad Bunny’s performance even more special and powerful.

The performance’s positive message about love and inclusivity is a strong antidote to the fear created by ICE operations and the hatred induced by anti-immigrant, anti-Latino, and anti-black discourse. As a Puerto Rican, Benito Antonio Martínez Ocasio, aka Bad Bunny, is a U.S. citizen. However, like many other minorities, on the street, he is racialized and treated as having fewer rights and valid political claims than white citizens who speak English as their first language.

Trusting his team to catch him after he fell backwards from the roof of the casita is a good metaphor for how he knew that Puerto Ricans, Latinos, immigrants, and Americans would have his back, despite the death threats against him that forced him to wear a bulletproof vest during the Grammys ceremony. The community was able to celebrate with him and through him as they watched the Super Bowl during a challenging time. Thus, in his own eyes, his music, lyrics, and his political statements against colonialism, calling Puerto Rica trash, and the dehumanization of people of color and the risks this entails, are worth it.

The halftime show made Latino kids and teenagers feel proud of who they are. It also made many Latinos and non-Latinos, whether they speak Spanish or not, proud of their musical tastes. Some of their parents or grandparents may not have known Bad Bunny’s music, but his fans are not alone. Bad Bunny recently won the Grammy for Album of the Year. He is the most-streamed artist globally on Spotify and other platforms, and the Super Bowl halftime show was enjoyed by over 130 million live viewers, plus over 80 million replays on the NFL YouTube page. This is as close as any cultural act can come to entering the U.S. and global mainstream. 

That is why the NFL selected the world’s leading artist. Bad Bunny is popular worldwide, singing in Spanish. He has no shame about his native language, accent, lingo, or culture. He is proudly Puerto Rican, which makes him emblematic of this multicultural reality.

MAGA proposes that these types of performances threaten US culture. But the USA is stronger than MAGA thinks. It is strong because of its diversity and its mixing of elements from around the world into new, creative products that sell very well. 

As I told Univision News, soon after Bad Bunny was announced as the performer for Super Bowl LX, and after he had hosted SNL and addressed the controversy the announcement caused, sending ICE to the Super Bowl would not have changed our multicultural reality; though it would have represented the fact that ICE and CBP act as if immigration equals crime. Santa Clara, California, is in the San Francisco Bay Area, where many residents were born abroad and work at Silicon Valley’s corporations. Thus, it would have been very difficult for ICE to patrol the streets around the Levy Stadium. Furthermore, it would have been economically and politically expensive if a large ICE operation in or around the stadium had caused the Super Bowl to start later or be severely understaffed. 

When criticized by conservatives for being selected, Bad Bunny defended himself. In doing so, he also indirectly defended other Latinos who are not as famous as he is, but who also contribute in their own way to daily life in the U.S.A. 

The U.S. continues living a practical contradiction on the one side being dependent on immigrant labor for affordability and economic growth but also complains about people arrivie to work and study. On the one hand, we have ICE detaining people for speaking Spanish, for being Latino, and hundreds of thousands of deportations happening. On the other hand, we have Latinos, the majority of whom are American citizens. Latinos are part of the economy, of culture, and of music. In the case of Bad Bunny, they make America great. 

All Puerto Ricans are citizens because Puerto Rico is a U.S. territory. Nevertheless, many assume that being American means being white and speaking English without an accent, which is not true. There are U.S. citizens of all origins, races, skin colors, faiths, and mother tongues. This Super Bowl halftime show was a celebration of that diversity, which makes us strong. Bad Bunny was not out of place in the Super Bowl, but much discrimination against Latinos includes the belief that Latinos are not one hundred percent American.

The upset from MAGA spokespeople is because they do not have control over popular culture. They would like corridos and songs in all genres to be written in celebration of Trump. However, with a few rare exceptions, this is not the case. 

People vote every few years, but they listen to music every week. The “culture wars” are not what Fox News says they are. Fox and other right-wing organizations politicize social issues that are at the early stages of the popular opinion shifts that ultimately lead to social change. No cultural product is loved by one hundred percent of the public. Culture is about practice, consumption, and remixing. People choose what type of food, music, and movies to consume time and time again. In recent years, Pedro Pascal, Diego Luna, Oscar Isaac, Benicio del Toro, Marcelo Hernández, Zoe Saldana, Ana de Armas, Rosario Dawson, Sofia Vergara, to name a few, have played key roles in some of the most popular movies and shows. 

The takeaway is that Latinos are an important part of the United States and make cultural contributions that benefit the whole world. Besides many transnational influences, collaboration with other artists based in the U.S. and throughout the Americas creates a new cultural reality. This cultural reality is a blend of contributions from Latinos and other U.S.-based artists. Together, we are all stronger, and our music is more universal, as the broad national and international appeal of Bad Bunny’s performance clearly shows.

Ernesto Castañeda is a political, social, and cultural analyst.

Does Colombia Pose a Threat to U.S. Security?

By Jorge Rojas Rodríguez

Former Deputy Foreign Minister of Colombia 

Gustavo Petro in 2022. (Source: Wikimedia)

The question in the title would seem to have no logical basis were it not for the fact that President Donald Trump, Secretary of State Marco Rubio and Secretary of War Pete Hegseth have all accused the president of the South American nation, Gustavo Petro, of being “a drug trafficking leader” and “sponsor of narco-terrorists,” and the U.S. has cancelled his visa and put him on the sanctions list of the Treasury’s Office of Foreign Assets Control (OFAC).

At the same time the Trump administration implemented operation “Southern Spear,” deploying U.S. naval and air forces in the Caribbean and directing attacks, with missiles, against vessels accused of transporting cocaine in the Caribbean and Pacific. As of this writing, 23 boats have been destroyed and 87 persons killed. Official sources indicate that at least one of these attacks occurred in Colombian waters.

Initially, Washington justified these actions in terms of the need to “protect our homeland from drugs that kill our people.” But the U.S. has subsequently begun referencing “antiterrorist actions,” accompanied by assertions of operations along the Colombian-Venezuelan border involving armed groups such as the FARC dissident groups,[1] the ELN,[2] and Hezbollah.

Clearly this military deployment by the U.S., and attacks, are disproportionate, leading to civilian deaths that could be declared war crimes, because they violate international humanitarian law. In addition, the cocaine allegedly destroyed represents a fraction of the volume of drugs transported on ships that cross the Pacific Ocean, not the Caribbean. Furthermore, as has been explained by U.S. intelligence agencies, neither Colombia nor Venezuela produces or traffics in fentanyl, the cause of most drug deaths in the U.S. According to the Centers for Disease Control and Prevention, in 2023, 107,500 Americans died from overdoses, 74,700 from fentanyl, and 29,000 from cocaine. In 2024, deaths totaled 70,596, with fentanyl the main cause of death from overdoses.

Drug policy in Colombia changed since leftist Gustavo Petro became president in 2022; his administration decided to attack the clandestine laboratories, seize the cocaine already processed (especially at sea), extradite large-scale drug-traffickers and go after their wealth. Petro’s is a very different policy from that of previous administrations, which focused their efforts on attacking those who grow the coca leaf, considered the weakest link in the chain.

The result is that the current administration has seized 2,700 tons of cocaine, destroyed approximately 15,000 laboratories, and extradited 400 drug traffickers to the U.S. In contrast to these figures, the volume of coca leaf grown has expanded during the same period. According to the UN’s Integrated System for Monitoring Illicit Crops, Colombia today has 255,000 hectares of coca and produces approximately 2,664 tons of cocaine that is exported illegally to the U.S., Europe, and Asia.

The government of Colombia has undertaken a policy of the voluntary eradication of coca crops, substituting legal agricultural alternatives in place of coca, while supporting peasant farmers with agricultural land –  a policy that has shown positive results, even though its effects are slower in coming.

It is clear that the government of Colombia is engaged in combatting drug-trafficking, the president has been firm in fighting the drug mafias, and the arguments brandished by Washington show a profound lack of knowledge of what drug-trafficking has meant for this Andean country.

President Petro has proposed a policy of cooperation to Trump to combat the cultivation of coca leaf, production and commercialization of cocaine, as has been done with prior governments over the course of the long strategic relationship between the two countries. There has been no response and some have begun to wonder whether drug-trafficking isn’t just a pretext for the Trump administration to intervene politically in Latin America, encouraged by sectors of the far right in Florida, as has now happened in Venezuela.

The paradox is that the problem of cocaine cannot be resolved by militarizing the Caribbean, invading countries and killing civilians on the high seas but instead by adopting a harm reduction policy that works to better understand the harms to both producers  and consumers, to prevent continued drug consumption, and provide effective and publicly available treatment options for those who continue to be trapped in the world of drugs. In this way the current figure of 5.3 million habitual users of cocaine in the U.S. would decline.

While the United Nations takes steps to improve upon failed models of the past, and is forming an independent commission to evaluate the “war on drugs” of the last 50 years, the U.S.  is backsliding toward militaristic policies that, while they might serve any number of purposes, will not overcome the trafficking and consumption of cocaine.


[1]   Factions of the Revolutionary Armed Forces of Colombia, or FARC, some of which did not go along with the 2016 peace deal between the Government of Colombia and FARC, and others that demobilized in 2016 and then took up weapons anew.

[2]   ELN: National Liberation Army, which has fought the government continuously since 1964.

This piece was authored by Jorge Rojas Rodríguez, translated by Charlie Roberts, and edited by Robert Albro, CLALS Associate Director.

Haiti Needs to Lay New Tracks

By Jake Johnston

Research Associate, Center for Economic and Policy Research

It’s been nearly a decade since Haitians last went to the polls to elect a president. Even then, barely one in five participated. In a country with a majority of the population under 25 years of age, this means that, for most Haitians, voting for one’s leaders is a privilege never before experienced.

Haiti’s transition, precipitated by the assassination of Jovenel Moïse in July 2021, is ongoing. For the better part of four years, progress toward elections has remained elusive. But that all appeared to change this fall.

“The Haitians need to come to an election and elect a president,” the US Charge d’Affaires, Henry Wooster said in September. Security and other challenges must not be a “red herring for taking action,” he continued. Speaking directly to Haiti’s de facto authorities, he warned: “In other words, you can’t stay in those jobs for life.”

The reaction, in a country where the political class remains more responsive to Washington than the population in Haiti, was swift. Two months later, a new electoral law has been established and a vote scheduled for next August. But does this present Haitians with a path out of the multiple, overlaid crises affecting the country? More than half the country is facing food insecurity, the economy is about to wrap up its seventh consecutive year of negative growth, and insecurity continues to dominate daily life.

In 2023, when asked if they had trust in the electoral process, fewer than one in four Haitians responded yes. It is hard to imagine that number is higher today. Though few would be sorry to see the much-loathed leaders atop the transition fall, a vote is not a path out of the current crisis.

The quick response to Wooster’s threats was not so much about elections. It was about a date much closer on the horizon: February 7, 2026. That is when the mandate of the nine-member presidential council — which was put in place with a strong push from the Biden administration, CARICOM, UN, and the OAS 18 months ago — formally ends. For months, debate has raged over what should come next. The political class is auditioning, not with the ten-plus million citizens of Haiti, but with the foreign diplomats and multilateral entities they see as key to their own survival.

And if there was any doubt about who would ultimately decide, it was put to rest in mid-November. Amid an effort from some on the transitional presidential council to, once again, replace the prime minister, the US embassy stepped into the fight.

“If you and your family value your relationship with the United States, I urge you in the strongest terms to desist from initiatives to oust the PM and to instead publish the electoral decree … This is not the time to test U.S. resolve,” Wooster texted Fritz Jean, one of the councilors. Days later, Jean’s US visa was revoked and the State Department publicly accused him, without providing evidence, of supporting armed gangs. The effort to replace the PM was stopped — at least for now. The next week, the electoral decree was published.

The “plan” is coming into focus, and it is a familiar one: stability at all costs, no matter how rotten the foundation. To enforce this notion of stability and allow for elections, the US has been quick to assure that more security support is on the way.

In September, the UN Security Council approved a Gang Suppression Force (GSF). Authorized for up to 5,500 soldiers, it is currently little more than a rebranding of the Kenyan-led Multinational Support Mission (MSS) that the UN authorized in 2024. No new troops have arrived and, while this new mission will have some level of UN support, operationalizing any of it is expected to take the better part of a year. 

The main difference then, for the 1,000 or so mostly Kenyan police on the ground in Haiti is that the rules of engagement have changed. The GSF, as its name suggests, is intended to be more “muscular,” by which its architects mean lethal. The newly drafted Concept of Operations outlines a mission with a simple goal: kill the bandits.

But while few have taken note, that has been the de facto authorities’ strategy for some time. So far this year, police forces have been responsible for well over half of the 4,500-plus killings in Haiti. Hundreds of civilians have been caught in the crossfire as police battle armed groups that exert influence over much of Port-au-Prince and have traumatized a nation. Drone attacks, led by a secretive police unit operating with Blackwater CEO Erik Prince’s private mercenaries, are also racking up civilian casualties and drawing growing condemnation.

The outspoken leaders of Haiti’s armed groups, however, only seem to continue to accumulate more power, political influence, and heavy weaponry. While some areas of the capital have seen tension ease, violence in the provinces is expanding by the day. Armed groups still control all the major arteries of the nation. More people are displaced today than at the height of the post-earthquake recovery.

The US has expressed its goal in Haiti as saving the state from imminent collapse, thereby avoiding mass migration or the further entrenchment of transnational criminal organizations. But while precious oxygen is consumed by raging debates over electoral timelines, transitional governance structures, and how quickly foreign soldiers can arrive, nobody has stopped to ask a basic question: is the current state worth saving?

The root of the tension that has paralyzed the country for much of the last decade is not a fight between violent gangs and the state. Simplistic narratives of good versus evil miss the mark. Rather, it is a fight over putting the train back on the tracks to save a rump state in the name of stability or to lay new tracks to create the foundations for a more representative state to rise from the ashes. It is not elections nor a foreign military force that will resolve this fundamental tension. In fact, history shows those two responses are more likely to consolidate the status quo.

The Haitian people need an opportunity to vote freely. They need to feel safe and secure in their communities. But what is missing is a plan to bring it all together, to begin restoring faith in a state that long ago lost the trust of the population; a plan to achieve peace, which is not just the absence of violence, but the presence of opportunity. What is missing is a vision that can inspire the population and bring the nation together around a common path forward.

A peace process can fill that gap. Such an endeavor does not mean legitimizing armed actors, condoning violence, or accepting impunity; rather, what it should mean is treating the situation holistically while centering the population and in particular victims of both state and non-state violence. A foreign military force and low-turnout elections are tracks Haiti has been down many times before. A peace process offers a chance at laying new ones. But first, what Haiti needs are political leaders responsive to the needs of the people and not simply to foreign embassies.

The Multiple Dimensions of the US-Brazil Relations Crisis

By Lívia Peres Milani

Public Policy and International Relations Institute (IPPRI-Unesp)

National Institute of Science and Technology for the Studies of the United States (INCT-INEU)

President Donald Trump meets with Brazilian President Luís Inácio Lula da Silva during the ASEAN Summit at the Kuala Lumpur Convention Center. (Source: Wikimedia Commons)

On November 11th, the US announced a withdraw of the additional 40% tariffs it had imposed on many goods of Brazilian origin, including coffee, fruit, and beef. The tariffs, initially imposed on July 30th, are one among multiple dimensions of the current bilateral crisis. Besides commerce, the crisis also has a political dimension, initiated by the recent US decision to invoke the Magnitsky Act – an instrument ostensibly used to sanction corruption and human rights violations – against Alexandre de Moraes, one of the Brazilian Justices responsible for the conviction  of ex-president Jair Bolsonaro over his attempted  coup d’état. While the recent White House decision does not necessarily represent an end of the crisis, it represents a pause of sorts, and so, a timely moment to assess the relationship.  

The imposition of tariffs  

The White House’s initial imposition of tariffs may at first glance make little sense, since it appears to disregard its economic interests. The US enjoys a trade surplus with Brazil, and there is not sufficient production in the US of many of the tariffed products to meet national demand. That is the case for coffee, fruit, and a variety of industrial supplies. However, to understand the source of the crisis, it is necessary to consider its non-commercial dimensions. These include i) the transnational articulation of far-right movements, ii) Big Tech’s economic interests, and iii) US geostrategic considerations.  

Brazilian and US far-right currents are deeply connected. Eduardo Bolsonaro, son of the former president, has worked to promote the Brazilian radical right abroad. During his father’s trial, he took a leave from Congress to launch a pressure campaign in the US against the Brazilian Supreme Court (STF) and the Lula government. With cooperation from sympathetic US leaders, he lobbied against the Lula administration, claiming that the trial was a “witch hunt,” his father was the victim of political persecution, and asking that the US government impose penalties on the Brazilian authorities responsible. This effort complicated Brazil’s relation with Foggy Bottom and the White House. Much of the language used by the White House to justify the new round of tariffs reflected this lobbying effort. 

Another factor that explains US policy toward Brazil are the interests of Big Tech companies. Brazil’s Supreme Federal Court took up a case relating to the responsibilities of social media platforms for user-posted content, ruling that social media platforms should be civilly liable if they failed to remove undemocratic, discriminatory, or crime-inciting content. In response, the US Computer and Communication Industry Association (CCIA) welcomed the imposition of sanctions against Moraes. They argued that the ruling in Brazil violated “free expression,” a strategy often used by Big Tech actors, in conjunction with far-right political leaders, to oppose the regulation of social media in Brazil and elsewhere.  

Finally, larger geostrategic considerations are also in play. The current US administration seeks to reassert US regional and global hegemony. Brazil, for its part, wants to promote its Global South leadership, framed as part of a “multipolar world order.” Promoting the BRICS forum is an important component of Brazil’s approach. The new tariffs were announced a few days after the BRICS summit in Rio de Janeiro, with the US president also threatening to impose tariffs on other countries that associate themselves with the BRICS+ group. This timing illustrates US opposition to the BRICS and pressure on Brazil to align with Western countries instead of its Global South partners. 

Tariffs backfire and the future of US-Brazil relations 

However, the Trump administration’s aggressive strategy against Brazil has not led to the expected results. Brazil’s government managed to control the domestic narrative, framing US tariffs as an attack on Brazilian sovereignty, a strategy supported by public opinion, as polls show. The US approach also became an incentive for Brazil to shore up its relations with Global South leaders. Following the tariffs, Lula reached out to the presidents of China and India to discuss the expansion of trade relations. The tariffs also proved unpopular in the US, and harmful for the White House, since they drove up the cost of coffee and other products. 

These several factors explain Trump’s subsequent decision to change direction. He opened a dialogue with Brazil, first announced at the UN General Assembly, and then confirmed his goodwill in a bilateral meeting in Malaysia. High-level negotiations, and the unpopular inflationary trend in the US, led to the recent removal of tariffs from many Brazilian products. It also signals an end to this most recent period of bilateral crisis. 

Nevertheless, there might still be consequences over the middle and long term. US sanctions communicate to the Brazilian government that, while a global power, the US is not a trustworthy partner, even when it comes to such non-strategic, everyday issues as the export of coffee and fruit. At the same time recent events have helped to cement the transnational partnerships of far-right leaders while also serving to illustrate how these relationships are impacting US government decision-making.  

On the other hand, the recent US decision to alleviate the tariffs is a signal for both partners that the US-Brazil bilateral relationship is an important one. Even if this relationship is imbalanced, given the US’s economy and global influence, the recent tariff episode illustrates that the US cannot simply dictate policy to Brazil, and that the two countries’ economic interdependence can function as a structural constraint upon the political will of far-right political actors.   

Latino Sense of Belonging Decreases amid Racial Profiling, Detention, and a Fading American Dream

By Anjini K. Patel

Source: Encuesta de Ipsos para Axios/Noticias Telemundo

A recent Telemundo survey reveals increasing pessimism from Latinos in the United States regarding their sense of belonging. Telemundo, in collaboration with Axios and Ipsos, surveyed a nationally representative sample of over 1,100 U.S. Latino adults from October 21 to 27, 2025. Conducted in both English and Spanish, the survey asked a variety of questions about their views on the American Dream, their sense of belonging in the US, and their optimism about the future of the country. Only 44% of respondents described the American Dream as achievable in 2025, a decrease from 61% in 2023. Similarly, 40% of 2025 respondents affirmed that the US makes them feel like they belong, and only 36% felt optimistic about the future of the US. This ​compares​ to 57% and 52%, respectively, in 2022. This survey provides an insight into the feelings of Latinos as they navigate the uncertainty of the current American political landscape.  

The survey also asked respondents about their anxieties related to being Latino/Hispanic in the United States. Compared with 39% in June 2022, 53% of respondents in 2025 reported feeling worried about themselves or a loved one being attacked because of their ethnicity. Two out of three (2/3) Latinos who identify as Republicans say it is a good time to be a Latino in the United States, while only one in ten (1/10) Latino Democrats agree. Seventy-one percent (71%) of those aged between 18 and 29 and 57% of those who are 50 and older, said it is a bad time to be Latino. 

Most respondents indicate that the Democratic Party, as compared to the Republican Party, better represents Latinos, cares more about them, and is better on economic and immigration policy. Additionally, most respondents agreed that the Republican Party takes Latino Americans for granted (39%) as compared to the Democratic Party (22%). Interestingly, more respondents describe the Republican Party as a good option for public safety compared to the Democratic Party, even in the face of increased fear and anxiety over being attacked for being Latino.  

What do experts say? 

Dr. Ernesto Castañeda, Director of the Center for Latin American and Latino Studies at American University, discussed this survey on Telemundo. As he states, the data from this poll are unsurprising given the very strong anti-immigrant rhetoric that Donald Trump and the Republican Party campaigned with and continue to use. Rather than focusing on people with violent criminal records, ICE raids and subsequent deportation, often without due process, have detained and deported people with all types of immigration statuses, and thus increased fear among Latinos. Castañeda points to comments by Justice Cavanagh and decisions by the conservative majority in the Supreme Court that made detaining someone based on their appearance and manner of speaking permissible, further blurring the lines between individuals with papers and those who are undocumented. In light of these violent mass deportations and detentions happening in public places, following stereotypes and racial profiling, it is no wonder that many Latinos report a decreased feeling of belonging in the United States. 

Regarding the impacts of these recent events, Dr. Castañeda explains that the feasibility of immigrants achieving the American Dream is decreasing. While people still arrive in the United States with high hopes that “they can come and work hard, send remittances, enjoy a better life, and that their children can go to university, in the United States right now, we see high underemployment rates, and many people are afraid to go to work because of mass raids. We are seeing inflation. It is harder to pay for health insurance, housing, and to save.” In this way, the American Dream is stalled. Since the end of the pandemic, the U.S. had seen a rapid and strong economic recovery, which Dr. Castañeda attributes largely “to the people arriving, especially from Latin America, seeking asylum—Venezuelans, Cubans, Haitians, Nicaraguans, and others—which increased the US population by 1%, which was very significant.” With the border closing under the current administration and deportations by the dozens of thousands, businesses are unable to grow at the same rate. Dr. Castañeda underlines: “If there’s less migration, it doesn’t mean there will be more jobs for locals. It means there will be less work for everyone, and more people will lose their jobs because the demand for goods and services decreases, businesses cannot hire and grow, and therefore they stop hiring and start firing workers.” 

Additionally, research shows that immigrants are much more likely to start businesses and hire more workers than businesses started by native-born citizens. Therefore, the lack of immigration has a negative impact on the overall economic growth of the United States. As Dr. Castañeda describes, “the fact that Latinos aren’t going to work here means there are fewer nannies. There are fewer construction workers, fewer lawyers, fewer nurses… it also makes many Latinos afraid. They don’t go to the markets, they don’t go to the malls, they are spending less, which has an impact, and many immigrants, seeing that there’s no American Dream anymore, aren’t going to bring their families or many of them are thinking about returning to their country.” 

The decreased sense of belonging by the Latino/Hispanic community has affected numerous outlets that embrace these cultures. Some events honoring Hispanic Heritage Month were canceled. This hurt artists, folk dancers, and musicians, as well as the larger public, who did not have the opportunity to engage with these rich cultural traditions. “Latin restaurants are struggling,” Dr. Castañeda says. “Hundreds are closing because they can’t hire enough people; workers are afraid to go to work because food is so expensive. So, it’s no longer a profitable business for them. The decline of the Latino food business also means fewer dining options, fewer cultural spaces, and fewer opportunities for communities to enjoy Latino cuisine. This is a loss for the United States as a whole.” 

Hope and Resilience in the Face of Uncertainty 

How should the Latino community respond to the ever-changing political landscape in the United States? Dr. Castañeda urges people to “stay calm and continue with their daily lives. We often do this for our children and grandchildren​,​ who, I truly believe, will have a good future. This storm is temporary. This will pass.” Importantly, he points out that nearly 80% of Americans view immigration positively. Mass raids are not popular​, ​and vulnerable​​ communities are​ witnessing​ peaceful protests carried out by citizens who are physically placing their bodies between immigration agents and migrants ​​who are in the process of being​​ detained. The November 2025 elections indicate that a majority of Americans reject the current administration’s extreme policies on immigration and the mismanagement of the economy. The anti-immigrant sentiment is ​driven ​primarily by​​ the federal government under Donald Trump, not the American people. With a hopeful outlook, Dr. Castañeda says, “I think that once this nightmare is over, there will be a greater sense of belonging, so we have to have patience, have faith in your fellow citizens, and I do truly believe that this will pass and the future will be better for U.S.-born Latinos and those immigrants who are able to stay. There will be concrete actions that will tell Latinos that they belong because this is their home.” 

Anjini K. Patel is a Sociology Research & Practice MA candidate at American University (AU) and works as a graduate research assistant at the AU Inequality, Social Justice, & Health Lab. Her research interests include immigration, criminal legal system & housing justice, and artivism & community building.

“We Knew We Were Going with God”

Religion, Hope, and Perseverance

By Tabby Ford

Photo by Katheryn Olmos; Silver Spring, MD

Migration is often a difficult process for those who leave their home country, both physically and emotionally. Whether their migration was motivated by finances, safety, or better career and educational opportunities elsewhere, leaving is not easy. The dangerous conditions of the journey and the uncertainty of what lies ahead deter many and can be overwhelming for those who proceed. For some migrants, religious belief gives them courage and strength to push forward, despite the stressful and hazardous obstacles they may encounter.

Many migrants and asylum seekers attribute their safety and the safety of others in their group to prayer and “God’s blessing” despite the dangerous conditions they faced on their journey to the United States. Especially for those who emigrate from Central and South America, the journey may require travel through multiple countries, often on foot or by car, and obstacles such as rough terrain, gangs, and hostile immigration agents. In some cases, migrants’ faith protects them from the emotional toll of potential danger. As one migrant from Venezuela states, when asked if he felt like he was in danger during his journey north, “No, we weren’t afraid. I mean, we knew we were going with God.” His faith kept him going during the long journey.

Migrants who encountered dangerous obstacles also attribute their successful journey to God. For Arturo, from Venezuela, the journey was incredibly dangerous. He crossed a 60-mile stretch of dense rainforest, known as the Darién Gap, with strangers, enduring hunger and exhaustion. Armed groups are known to extort migrants at gunpoint in this remote area, and those unable to pay sometimes never return. “We saw other people being kidnapped… thank God they didn’t catch us,” he recounted, describing the terror of running through the forest with a child in his arms and the relief of making it through. Eduardo, from El Salvador, recounts being shot at by immigration authorities at one point in his journey and how many members of his group survived due to their prayers; “Thank God, praying to God and the Virgin Mary, we hid [from] them … God already performed the miracle.” For one Honduran immigrant, Alma, her migration journey was shaped largely by religion. While she was born in Honduras, she was brought to El Salvador as a teen to attend a high school run by Catholic missionaries. Her religion, education, and physical location have long been intertwined. Although she has needed to move a lot and now must adjust to living in yet another new country, she says, “things happen for a reason. I always say, sometimes you feel lost, but God is showing you something… You gotta, you know, go forward.” She attributes her prayers and God’s plan to where she is in life, especially her education and career. For many immigrants, even though their faith and belief in God did not shield them from life-threatening conditions and the challenges of immigrating, their faith fueled their courage, guiding them along the way.

Houses of worship often play an integral part in assisting migrants, especially in the first few months after arrival, by providing a space for community building and cultural events. They also become sources of mutual aid. For instance, this can be seen in local Mosques and Ukrainian churches, where Afghan and Ukrainian refugees, respectively, utilize resources. For example, Oleg, from Ukraine, reports a lack of restaurants that serve Ukrainian food in the region he settled in. Despite this lack of places to go out and eat Ukrainian food, he says that “usually, [he] can get something from the church.” Although he is able to make Ukrainian food at home, the local Ukrainian church is Oleg’s only option for connecting with the wider Ukrainian community over a meal. Another example is Latif, a refugee from Afghanistan, who also utilized resources from local churches and mosques. In his efforts to further his education in the United States, he learned that a local mosque “had some funds to help some refugees get an education.” He used these funds to enroll in an IT certificate program, which helped him find a job that aligned with his career goals.

In addition to getting material resources from local religious groups and congregations, many migrants also rely on faith in God’s plan to get through the difficult transition and settling process. Once in the United States, religious migrants use their belief system as motivation to create a new life in their new community. They are able to leverage their belief systems for community engagement and to establish a sense of belonging. Many migrants also report celebrating religious holidays in local congregations and communities with similar cultural backgrounds or with other immigrants from their home country. Faith helps to form the lens in which people see the world through. As one Mexican woman states, “I practice my faith, […] I’m Catholic, so I ground myself a lot in just the human dignity coming from something beyond me.” Arturo, an immigrant from Venezuela embodies this mindset well, as his faith has helped him in adjusting to his new life and feeling a sense of belonging. As he states, “We are all equal as the children of God, we are all equal.” His belief system has given him an optimistic attitude about his new home and how he has been received.

Although it is taking him time to learn English, Arturo also thanks God for his ability to pick up enough English to get by in his work as a delivery driver and for his work permit allowing him to make money to send home: “Right now at this moment thank God at least I have the work permit, I have my partner and I am about to find a way to get my papers together.” He implies that process of finalizing his immigration papers will involve lots of time, money, and effort, but is hopeful and thankful to God for where he is and that he at least has a work permit. Similarly, Silvia, who immigrated from El Salvador in her 20s, implies that God’s work helped her in finding a job when she first arrived in the United States, saying “It was almost not difficult for me, thank God, because a lady gave me a job who had a business selling pupusas.” Arturo and Silvia both thank God for where they are in life now and have trust in their religious beliefs to carry them where they need to be.

For many people who undertake the process of immigration to the United States, their faith and religious beliefs are as essential to their journey and adaptation as it is to every other aspect of their life. Religion plays an important role in maintaining hope and resilience throughout the danger and uncertainty of both the journey and the destination. Once arrived, religious communities, positive outlooks, and faith in a bright future help immigrants settle and feel like they belong in their new home country.

Tabby Ford is a Research Assistant at The Immigration Lab and a Sociology Research & Practice MA Candidate at American University

Edited by Quinn Pierson, Sociology Research and Practice MA Candidate at American University, Ernesto Castañeda, Director, and Chris Belden, Research Assistant at the Center for Latin American and Latino Studies and the Immigration Lab.

Can Peru’s Democracy Recover?

By Cynthia McClintock*

Photographs from the early hours of the Generation Z protest in Peru, 2025
(Source: Wikimedia Commons)

Since 2021, democratic backsliding has been severe in Peru, and Peruvians are furious. Peru’s Congress is loathed. In 2025, the approval rating for Peru’s President, Dina Boluarte, fell below 3 percent and she became the most unpopular president on the planet. Finally, in October, Boluarte was impeached on the grounds of “permanent moral incapacity”; it was the fifth time since 2018 that a president had been impeached or had resigned upon imminent impeachment.  Per Peru’s constitution, Boluarte was succeeded by the Congress Speaker, José Jerí. Presidential and Congressional elections are scheduled for early 2026.

Why are Peruvians so angry? What does their anger mean for the 2026 elections (with the Congressional elections and the first round of the presidential elections scheduled for April 12 and a likely runoff on June 7)? Is it possible that the elections can lead to a democratic recovery?

Why are Peruvians So Angry?

The key reason is not “the economy stupid,” but an escalation of organized crime and the perception that Peru’s political leaders are part of the problem rather than part of the solution.

Between 2019 and 2024 the number of homicides doubled and the number of reported extortions jumped sixfold. Extortion is hurting huge swathes of lower-middle class Peruvians. Transport workers have been particularly vulnerable; so far in 2025, approximately 50 bus drivers have been killed for refusing to make extortion payments.

The reasons behind the crime escalation are various. Demand for cocaine remains high and, over the last decade, Peru’s coca cultivation has increased. As the price for gold jumped, so did illegal gold mining. Peru’s gangs are fragmented—and therefore hard to track—and they have developed nefarious new strategies such as using WhatsApp for extortion.

But, Peruvians believe, the reasons also include the government’s complicity. In part because illicit operators have provided campaign finance, in 2024 approximately half of Peru’s legislators were under criminal investigation; these same legislators have passed laws to impede investigations and prosecutions. Boluarte herself is under investigation for various crimes, including illicit enrichment. She sported a Rolex watch priced at $19,000, despite no evident financial means for such extravagance.

Further, from the start large percentages of Peruvians did not deem Boluarte a legitimate president. In 2021-2022, Boluarte was Vice President under President Pedro Castillo. Leading a far-left party in fraught elections during COVID, Castillo was an accidental, unprepared president. He was virulently opposed by the dominant right-wing forces in Congress, in particular Fuerza Popular, the party of Keiko Fujimori, the daughter of former authoritarian President Alberto Fujimori. As Vice President, Boluarte had said that, if Castillo were impeached, she too would resign, triggering new elections. However, in the event of Castillo’s December 2022 impeachment, Boluarte stayed on, despite massive protests and ubiquitous calls for new elections.

As President, Boluarte appeared indifferent to Peruvians’ concerns. Between December 2022 and February 2023, 49 civilian protesters were killed by the security forces. Boluarte’s response was support for an amnesty law. And, amid an October 2025 transport workers’ strike, Boluarte’s advice to Peruvians worried about crime was that they should not open text messages from unfamiliar people—placing blame for crimes on the victims.

What Does Peruvians’ Anger Mean for the 2026 Elections?

Peruvians’ anger spells difficulties for its incumbent parties and advantages for parties that can claim an “outsider” mantle. Fujimori’s Fuerza Popular is widely considered the dominant party in the Congress, and it will struggle against this perception. Its presidential candidate, Fujimori, is running for the fourth time and is likely to have worn out her welcome.

Not surprisingly, demands for an “iron fist” against crime are strong. The current presidential frontrunner is Renovación Popular’s Rafael López Aliaga (aka “Porky”), a Trump-like far-rightist who placed third in the 2021 election and was subsequently elected Lima’s mayor. López Aliaga promises a hardline strategy against organized crime, including implementing similar imprisonment policies to those of El Salvador’s Nayib Bukele. But Renovación Popular holds the fourth largest number of seats in Congress and it will be difficult for López Aliaga to claim an “outsider” mantle.

A candidate likely to claim an “outsider” mantle is Mario Vizcarra, running as a proxy for his brother, former President Martín Vizcarra. As President in 2018-2020, Vizcarra confronted the dominant parties in Peru’s Congress, building his popularity but ultimately catalyzing his impeachment. After a strong showing in Peru’s 2021 legislative elections, he was disqualified from holding elected office for ten years. Yet, Vizcarra’s government was far from without fault. There are other candidates, including the popular former clown, Carlos Álvarez, who could seize the “outsider” mantle.

Can Peru’s 2026 Elections Lead to Democratic Recovery?

The challenges to Peru’s elections are serious. In recent years Fuerza Popular and other illiberal parties in Peru’s Congress have allied to skew the electoral playing field in their favor.  Interim President Jerí is, of course, new to his position and his possible impact on the elections is unclear. (His first-month record was better than was first expected.)

As elsewhere in Latin America, Peru’s illiberal parties have strategized to achieve the disqualification of viable candidates. As indicated, this strategy is currently being used against Vizcarra; it could also be used against a rising new candidate.

Peru’s illiberal parties have calculated that a plethora of candidates is in their interest. Currently, 39 party lists are registered. Such a head-spinning number is problematic for journalists trying to cover the campaign and problematic for voters trying to identify their preferred candidate, especially because pre-election polls are more likely to be inaccurate. Yet, Peru’s Congress cancelled a provision for a preliminary round of voting, in which parties would have been required to secure 1.5 percent of the vote in order to qualify for the “first round.”

Still, there are grounds for optimism. The massive protests of recent years have shown that Peruvians want their political views heard. Peruvians recognize the importance of honest, capable leadership and want to find it.

*Cynthia McClintock is Professor of Political Science and International Affairs at George Washington University.

Bolivia Decisively Enters New If Unknown Political Territory

By Robert Albro, Associate Director, CLALS

Rodrigo Paz is sworn in as president of Bolivia, 2025
(Source: Wikimedia Commons)

Centrist Rodrigo Paz’s victory in October’s runoff election signals a dramatic change of direction for Bolivian politics. The era of dominance of the Movement Toward Socialism (MAS) party, led by ex-president Evo Morales, is definitively over. For only the second time since 2006 the MAS will not control the presidency. As a result of the recent election, it now has a mere two representatives in the legislature’s lower house, and no one in the upper house. Though it does not hold an outright majority, Paz’s Christian Democratic Party is now the single largest presence in both legislative chambers. How did Bolivia get here?

Twenty years ago, the leftist-populist MAS swept into power, as a new and energetic grassroots alternative to the elite-run traditional parties that had traded off governing Bolivia since the end of dictatorship in 1982, or one could even argue, since the 1952 Revolution. The MAS’s popularity sprung largely from the dynamism of Morales, himself, then a coca grower union leader adept at organizing and leading large-scale protests in opposition to prevailing Washington Consensus policies and government efforts to sell off Bolivia’s non-renewable resources to transnational corporate interests. The MAS styled itself a bottom-up social movement and not a party. Its participatory “lead by following” approach to governance appealed to a great majority of indigenous voters and working-class people of indigenous descent.

Morales and the MAS proved historically consequential in undertaking a contentious but innovative rewrite of the country’s Constitution, which went into force in 2009. It fully embraced Bolivia’s “plurinational” identity and incorporated an unprecedented variety of collective indigenous rights of consultation, to their traditional territories, and perhaps most controversially, of judicial autonomy. The Morales administration also used a large surplus from the country’s extractive boom to finance a wide range of new social safety net provisions that halved the number of people living in poverty, including cash transfers to families, a pension program, minimum wage increase, as well as public investments in schools, hospitals, and other infrastructure. Perhaps most importantly, his presidency raised the public visibility of Bolivia’s indigenous majority, no longer as second class citizens but as political protagonists of their own present and future.

Morales and the MAS were immensely popular. But then cracks began to appear. In 2011 a plan to build a controversial highway through a protected indigenous reserve brought the MAS government into direct conflict with the reserve’s residents, damaging its support among some indigenous groups. When the extractive boom ended around 2014, Bolivia’s economy slowed considerably, and the MAS fiscal policies that had lifted so many out of poverty became increasingly unsustainable. Part of the problem was Morales, who served two presidential terms and aspired to another, without any thought to a succession plan. Constitutionally limited to two terms, in 2016 he soundly lost a national referendum in a bid for a third and then ignored the result, further alienating many former supporters.

The upheaval around the contested 2019 election, which eventuated in Morales going into exile in Mexico and the persecution of MAS loyalists by a rightwing caretaker government, set the stage for the party’s eventual fall from grace. The 2020 election restored the MAS to power. But soon Morales and the new president, his ex-finance minister Luis Arce, were in a pitched battle for control over the party, a bitter and increasingly personal rivalry that fatally fragmented the MAS into opposed camps. Their protracted feud, which paralyzed congress, strayed into surreal territory, with accusations of a staged coup and mutual assassination attempts. The credibility of the MAS was so fundamentally damaged that the incumbent Arce, with his poll numbers plummeting, suspended his campaign. Morales, meanwhile, remains holed up in his coca grower redoubt to avoid criminal charges.

The MAS-led government’s political fragmentation, and its ineffectual response to Bolivia’s increasingly disastrous economy, have left the party deeply unpopular. The country is currently floundering amid its worst economic crisis in 40 years. Its natural gas production is half of what it was in 2014, with nothing to replace it. Bolivia has failed to develop its large reserves of lithium. Depleted currency reserves and a scarcity of US dollars have driven up inflation, creating severe shortages of fuel and basic goods. Over the past year, ordinary Bolivians have angrily expressed their discontent with the country’s economic collapse through repeated strikes and protest actions.

Emerging from this bleak political and economic state-of-affairs is the surprise election winner, Rodrigo Paz. Son of onetime leftist president Jaime Paz Zamora, former mayor of Tarija, and recently a senator, Paz’s campaign focused on restoring Bolivia’s economy, but gradually rather than by instituting sweeping fiscal austerity measures as his rival in the run-off proposed. Non-indigenous, pro-business, and ideology averse, Paz successfully positioned himself as a pragmatic reformer. He has delivered a strong anti-corruption message, pledged to restore relations with the US and bring back foreign investment. His populist call for a “capitalism for all” hopes to thread the needle by mixing decentralization, lower taxes, support for small businesses, and greater fiscal discipline, with continued spending on popular MAS-era social programs.

Paz’s critics argue that what he proposes is an impossible fiscal balancing act. Desperate and impatient Bolivians will expect immediate results. But it remains far from clear whether Paz will be able to overcome likely regional opposition to at least some of his policies. And if he does not stabilize the country’s dysfunctional economy quickly, Paz’s political honeymoon might be brief.

The Rise, Decline, and Crisis of Ecuador’s Indigenous Movement

By Dr. Pablo Andrade Andrade

October 17 Demonstrations (Manifestaciones del 17 de Octubre)
(Source: Wikimedia Commons)

Just six years ago, in 2019, the three major organizations of the Ecuadorian indigenous movement were on the rise. CONAIE (the Confederación de Nacionalidades Indígenas del Ecuador) led the charge against Lenin Moreno’s government. For eleven days their widespread demonstrations posed a serious threat to the government’s stability. The “Paro Nacional” (Nationwide Strike) not only facilitated CONAIE’s alliances with the other two indigenous organizations (FENOCIN, the Federación Nacional de Organizaciones Campesinas, Indígenas y Negras, and FEINE, the Federación Ecuatoriana de Indígenas Evangélicos) but also broadened its coalition with a diverse range of civil society organizations, marking a significant shift in Ecuadorian politics. The impact of the indigenous movement on Ecuadorian politics was profound, as Moreno´s government was seriously weakened. Two years later, in 2021, CONAIE’s political party, Pachakutik, won substantial representation in the National Assembly and placed third in the Presidential elections.

In 2022 CONAIE’s president, Leonidas Iza, led a successful national strike against Guillermo Lasso’s right-wing government. His leadership, bolstered by unity among indigenous communities and their allies, made it the most powerful leftist organization. Newfound solidarity among indigenous communities and stronger ties with student, feminist, and environmental movements, enhanced Iza’s national and international reputation. Less than a year later, President Lasso had to end his term and called for early general elections. However, at that moment Iza´s radical wing of CONAIE also attempted to impose its agenda over Pachakutik and the Amazonian federation CONFENIAE, which proved to be a high-cost strategy. The internal conflicts that followed led, in 2025, to the most serious electoral defeats that both organizations had suffered in decades.

The 2023 general elections were marred by prison massacres and political assassinations, including that of presidential candidate Fernando Villavicencio and the mayor of Manta, among numerous other government officials. Amid this unprecedented turmoil, a young center-right candidate, Daniel Noboa, emerged victorious as interim president. His win signaled yet another shift in Ecuador’s political landscape, with the country’s fragile democracy once again at the mercy of a personalist, plebiscitarian president.

The first warning sign of the current political turn to populist rule came with the 2025 regular election. The President’s party (Alianza Democrática Nacional, ADN) and the opposition party (Revolución Ciudadana, RC) totalled over 80 percent of National Assembly representatives. Noboa won his first five-year mandate. Pachakutik saw its representation shrink to five members, who the government rapidly coopted. Free from legislative checks, Noboa advanced his economic adjustment program. In addition, amid the ongoing public security crisis, Noboa expanded the military’s role in maintaining domestic order. Although assassinations have risen since 2023, militarization has strengthened Noboa’s control over organized violence, boosting political support for his government.

As part of its economic program, in September 2025, the Noboa administration raised diesel prices, a decision that in 2021 and 2022 sparked the wrath of CONAIE. But the leaders misjudged the lasting strength gained in 2021 and 2022, failing to account for damage from the 2023 and 2025 leadership races. As a result, they  rushed to emulate the apparent successes of the past. This time, however, CONAIE was at its lowest point. Unable to coordinate a nationwide strike, organizations in the northern province of Imbabura were left to their fate. The indigenous peoples of Cotacachi, Ilumán, Peguche, and Otavalo sustained demonstrations for a month. Still, they paid a high price in lost lives, injured people, and detainees due to systematic and brutal repression at the hands of the Armed Forces and the Police. This time, the government did not back down; the solidarity of  allied urban groups was, in this case, mostly symbolic and ineffective.

If CONAIE’s crisis should not be seen as the end of the indigenous movement, its significance cannot be overlooked. While grassroots mobilization once seemed effective, Noboa’s strong appeal and military support present new challenges. The aftermath of the national strike has called into question CONAIE’s representativeness and capacity to organize. An emboldened Noboa is now proposing a national plebiscite, in which he will likely be victorious, while Ecuador’s civil society appears weaker than ever. The challenges ahead are complex. The failed challenge to Noboa´s government could herald a new era of competitive authoritarianism, a scenario made even more likely by renewed international tolerance of hybrid forms of democracy. The lost battle left the indigenous organizations of Imbabura with wounds that could be challenging to heal, and racism lurks underneath the surface of Ecuador’s still young experiment with intercultural co-governance.

Pablo Andrade Andrade is Professor and Chair of the Germánico Salgado Lectures, Universidad Andina Simón Bolívar

*This post continues an ongoing series, as part of CLALS’s Ecuador Initiative, examining the country’s economic, governance, security, and societal challenges, made possible with generous support from Dr. Maria Donoso Clark, CAS/PhD ’91.

On the U.S. – Argentina Currency Swap

By Dr. Susana Nudelsman

Central Bank of Argentina (Banco Central de la República Argentina)
(Source: Wikimedia Commons)

In October of this year, the United States Treasury Secretary Scott Bessent ratified the signing of a US$20 billion currency swap with the Central Bank of Argentina as part of an “economic stabilization agreement” (Buenos Aires Herald, 2025). Moreover, the U.S. Treasury announced it is working on a complementary US$20 billion credit line that would be provided by private-sector banks and sovereign wealth funds (La Nación, 2025).

According to the Argentine banking institution, this agreement seeks to contribute to the country’s macroeconomic stability, emphasizing the need to preserve price stability and promote sustainable economic growth. The swap operations will enable the Central Bank of Argentina “to expand its set of monetary and exchange rate policy instruments, including the liquidity of its international reserves”, in line with the regulatory functions outlined in its statutes. The agreement is an important factor of a far-reaching approach that aims to strengthen the country’s monetary policy and improve the Bank’s ability to cope with events of volatility in the foreign exchange and capital market (Central Bank of Argentina, 2025).

Why is Argentina interested in this agreement?

Peterson Institute Professor Maurice Obstfeld (2025) highlights Milei’s remarkable success in lowering inflation, achieving a federal budget surplus, and relaxing regulations. Prior to the present crisis, the IMF predicted that Argentina’s GDP would expand by 5.5 percent in 2025, after shrinking 1.3 percent in 2024. At the same time, the IMF’s initial assessment of April 2025 concluded that, with one exception, important objectives were met. Indeed, the country’s net foreign exchange reserves, which are primarily in US dollars, fell well short of their target level.

Harvard Professor Ricardo Hausmann (2025) explains that Argentina is trapped in a multiple equilibrium, that is, a situation in which given the same set of conditions, an economy can achieve two or more distinct and stable equilibrium outcomes. If investors are willing to lend money when they feel optimistic, this lowers interest rates helping the economy grow and keeping debt service low, thus confirming the initial expectations. Conversely, if investors become pessimistic, they demand high risk premiums, which causes interest rates to skyrocket, harming investment and making public debt more expensive, thus justifying their fear of a crisis.

For his part, the former Secretary of Finance of Argentina Daniel Marx (2025) underscores that the pre-election portfolio adjustment has been less complicated than in the past, which shows more credibility with banks and institutions. In this regard, financial support from the U.S. Treasury can be useful in creating a sequence that enables its orderly implementation. Hence, the funds obtained to cope with the ongoing problems could be used to address important unresolved issues rather than being used for other instances in which funds are being depleted in the short-term.

Why is the U.S. interested in this agreement?

As Brad Setser (2025), Senior Fellow at the Council on Foreign Relations, argues, Washington has an interest in Milei’s success, not only because of his emphasis on stabilizing the Argentine economy, but also because his commitment to the free-market approach could serve as an important example for the rest of the continent.

However, U.S. interest in the swap agreement should also be understood in terms of the momentous change that the architecture of international financial relations has been experiencing in recent times. Indeed, following various decades of growing global economic integration, the planet is now confronting the threat of policy-driven geo-economic fragmentation.

In this context, Argentina matters for the strategic interest of the United States. Scott Bessent (2025) has emphatically stressed that the country is “a systemically important U.S. ally and that the U.S. Treasury stands ready to do what is needed within its mandate to support Argentina.” In other words, the Trump administration’s bailout resembles Mario Draghi’s support for European stability in 2012 with his “whatever it takes” approach, applied to the Argentine case in 2025.

Vera Bergengruen (2025), a journalist for The Wall Street Journal, believes that Washington’s security policy is a sort of revival of the Monroe doctrine. While the prior doctrine sought to keep European powers out of the region, the current one is primarily focused throughout the Americas with an aim to reward loyalty and to root out enemies. In this respect, Argentinian political analyst Juan Landaburu (2025) points out that in the context of a North American withdrawal from other regions, the so-called “backyard” of the United States is gaining greater importance, but this time not because of European ambitions but because of China’s advances.

  • With the results of Argentina’s midterm elections, the government has gained public support for its pro-market approach, while also gaining ground in the international financial community.
  • For its part, the United States government welcomes this result, which reaffirms its political preferences and allows it to make projections about its strategic interests in Latin America.
  • That said, the swap agreement between the U.S. and Argentina, while not without risks, constitutes an opportunity to renew ties of cooperation in the context of the current complex architecture of international relations. The coin is in the air.

REFERENCES

Bergengruen Vera, 2025, Trump’s ‘Donroe Doctrine’ Aims to Dominate the Americas, The Wall Street Journal, October 22, available at https://archive.is/20251023231723/https://www.wsj.com/world/americas/trumps-donroe-doctrine-aims-to-dominate-the-americas-b31208dd

Bessent Scott, 2025, Argentina is a systemically important U.S. ally in Latin America, and the @US Treasury stands ready to do what is needed within its mandate to support Argentina, available at https://x.com/SecScottBessent/status/1970107351912075454

Buenos Aires Herald, 2025, Scott Bessent confirms Argentina-US currency swap has been signed, available at https://buenosairesherald.com/economics/scott-bessent-confirms-argentina-us-currency-swap-has-been-signed

Central Bank of Argentina (Banco Central de la República Argentina), 2025, The BCRA and the U.S. Department of the Treasury sign a USD 20 billion agreement for exchange rate stabilization, available at https://www.bcra.gob.ar/Pdfs/Noticias/acuerdo-bcra-tesoro-estados-unidos-EN.pdf

Hausmann Ricardo, 2025, Trump Alone Can`t Save Argentina, New York Times, October 15, available at https://www.nytimes.com/2025/10/15/opinion/argentina-milei-trump-bailout.html

La Nación, 2025, Estados Unidos prepara otra ayuda para la Argentina con el sector privado por US 20000 millones, October 16, available at https://www.lanacion.com.ar/estados-unidos/eeuu-prepara-otra-ayuda-para-la-argentina-con-sector-privado-por-us20000-millones-nid16102025/

Landaburu Juan, 2025, Por qué Trump mira a América Latina más que nunca? La Nación, October 25, available at https://www.lanacion.com.ar/el-mundo/por-que-trump-mira-a-america-latina-mas-que-nunca-y-cuales-son-los-riesgos-detras-de-su-estrategia-nid25102025/

Marx Daniel, 2025, De pesos a dólares: esta vez es algo diferente, El Cronista Comercial, October 21, available at https://www.cronista.com/suscripciones/?limit=false&continue=https%3A%2F%2Fwww.cronista.com%2Fcolumnistas%2Fde-pesos-a-dolares-esta-vez-es-algo-diferente%2F&kicker=Opini%C3%B3nExclusivo%20Members&title=De%20pesos%20a%20d%C3%B3lares%3A%20esta%20vez%20es%20algo%20diferente&summary=&image=https%3A%2F%2Fwww.cronista.com%2Ffiles%2Fimage%2F1272%2F1272625%2F68f969cdb980d_600_315!.jpg%3Fs%3D0eec9030d86ead2043d767eb59f61bac%26d%3D1761176231

Obstfeld Maurice, 2025, Argentina’s Credibility Trap, Brookings Institution, available at https://www.piie.com/blogs/realtime-economics/2025/argentinas-credibility-trap

Setser Brad, 2025, Will Trump’s $20 Billion Backing Help Milei Change Argentina’s Fortunes, available at https://www.cfr.org/article/will-trumps-20-billion-backing-help-milei-change-argentinas-fortunes


Susana Nudelsman is a Doctor in Economics focused on international political economy. Counselor at the Argentine Council for International Relations and visiting fellow at CLALS.