The future of structural reforms in Latin America is under discussion. This paper synthesizes the facts and opinions that underlie this debate taking into account both the neo-liberal agenda and the views of the anti globalization movement. The paper pointing out that although the reform process has not ground to a halt, it has been incomplete and uneven, both across countries and different areas of reform. Next, the paper analyzes analyzes public opinion of on the reform process and points out that disillusionment with the reforms has been growing, particularly among the middle class and in countries characterized by high levels of corruption. The paper third section of the paper reviews the effects of the reform on growth, poverty, inequality, and employment. The paper summarizes the main proposals to expand or reorient the reform agenda in Latin America.