Venezuela’s ongoing descent into economic and political chaos is a cautionary tale of the dangerous influence that resource wealth can have on developing countries.

The country’s massive economic problems will be a vexing challenge for whoever becomes president.

At 32 years old, Mercosur faces an existential crisis; Petro signals a big shift on drug policy; Massa’s last-ditch election spending will hobble the next government.

Mexico’s 2024 campaign season officially begins; Petro’s window for reform narrows further; Latin American economies will stagnate through 2025.

Numerous countries will hold elections in 2023. Here are five to watch.