Following a substantial rebound in 2021，economic recovery is expected to continue across Latin America and the Caribbean（LAC）in 2022，with economic growth rate projected at 2.7%. With outlook in 2023，LAC will be encountered with more complicated domestic and foreign challenges，however. From the external perspective，further slowdown in the global economic growth is predicted，LAC will not only present the lower external demand，but also witness the shrinking inflow of foreign direct investment and remittances. Moreover，due to the tightening global financial conditions and deteriorating geopolitical tensions，financial risks will escalate in LAC. From the internal perspective，the domestic inflation pressures will continuously aggravate，and monetary policies of various countries in LAC will be tightened synchronously. Meanwhile，the mounting fiscal pressures will also undermine the fiscal stimulus efforts by various governments. The Ukraine crisis has caused a rise in global geopolitical risks，and factors such as the energy crisis，food crisis，and the risk of global supply chain disruptions will inevitably hit Latin America and the Caribbean. Economic growth of LAC will slow down in 2023，whereas multiple challenges will be still posed to recovery process.