One major event that has happened in Latin America this year is the announcement by Cuba's leader, Raul Castro, of major changes in the way that country will be run (if the reforms go forward as announced).
Since the revolution in 1959, Cuba has suffered economically and it has been run essentially as a dictatorship. Castro says that steps will be taken to fix these problems. Specifically, Castro says that there will be much more room for private enterprise in Cuba in the future. Cubans will be able to own and operate some small businesses on their own. Castro also says that future leaders will only be able to serve two terms in office. This will prevent future instances of long-term one man rule such as that of Fidel Castro.
If these reforms are actually put into action, this will be an important change in Cuba.