This commemorative edition of CAF’s RED series reflects on the progress and challenges of development in Latin America and the Caribbean over recent decades. Through rigorous analysis, it highlights significant achievements in social inclusion, health, access to basic services, and macroeconomic stability, while acknowledging the persistent structural barriers that hinder sustained and equitable growth. In the face of population aging and a dual transition—digital and green—the report outlines a strategic vision to transform these challenges into opportunities for sustainable development, leveraging the region’s comparative advantages such as its biodiversity, natural resources, and energy potential. This publication celebrates twenty years of knowledge in service of a more prosperous, inclusive, and resilient future.