The document summarizes the Latin American business environment and economic outlook for 2016. It finds that since 2014, Latin American economies have struggled with slow growth in developed markets, low commodity prices, and a strong US dollar. This has impacted commodity-dependent countries the most through falling exports and GDP. However, the business climate is improving, with reductions in the time required to start businesses or obtain electricity. While corruption and crime remain problems, the political environment may be changing as voters in Argentina and Venezuela rejected statist policies. Relations with Cuba are also thawing as the US and Cuba work to normalize diplomatic relations.