In 2008，a good momentum of steady development prevailed the political picture of Latin American countries. Transformation and relevant adjustments were continuously fostered by national governments；general elections in 5 countries were carried out as expected for smooth transfer of power between parties and local elections in a few countries closed peacefully. During the year，leftist governments remained steady in power while local turmoil started to abate. However，as the international financial crisis began to take its toll on Latin American economies in the second half of the year，a dramatic economic slowdown is foreseen for Latin America in 2009 and growing political and social risks are posing serious challenges to all Latin American governments.