The continuing trend of the public debt growth in a number of Latin American countries in the post-pandemic period is a source of strengthening the crisis potential in the region. The author analyzes statistical data on the current situation in Latin American economies. The author hypothesizes that in the medium term it is impossible to qualitatively reduce the absolute volumes of public debts in a number of Latin American economies due to the significant uncertainty of the resumption of positive economic dynamics sufficient to ensure proper debt sustainability. Despite the importance and priority of the policy aimed at reducing the volume of public debts in absolute terms, the author makes the following forecast. In view of the global geopolitical tensions observed today, government borrowing by Latin American countries will increase in the medium term. This is due to both the goals of rapid economic recovery and previously not predicted economic shocks on a local and global scale. The assessment of possible drivers of future economic recovery is given. Their effective implementation can contribute to economic stabilization and achieve proper debt sustainability. The article may be of interest to both the investment community, financiers and economists. FUNDING. The article was prepared based on the results of research carried out at the expense of budgetary funds under the state assignment of the Financial University under the Government of the Russian Federation.