Yes, yes they do. Brazil is flaky. It is going through a good period now. The country is run from Brasilia of course but the representation is composed of industrialists from the South that are European like and near aboriginals from the north that sometimes seem barely out of the stone age. Then there are the masses that live in the favelas and survive by the law of fang and claw.
Brazil is flaky.
Most Latin American countries are really two societies in one. In most of these nations, there's an affluent, civilized minority that is primarily of European descent. The rest of the populations consist of savages - Indians in squalid villages, gang-infested urban mestizo barrios (picture East LA on a grand scale), and (in the case of Brazil and other countries where slavery was prevalent) Quilambos that look like mini-Haitis.
The fundamental problem is that the affluent, European minorities of these countries are unable to manage the non-European majorities except through tin pot military dictatorships that struggle to keep the peace. Otherwise, they wind up as failed states or narcostates.