This report has been prepared in response to growing concerns about the impacts of climate change on Latin American economies, agriculture, and people. Findings suggest that because of the climate change impacts on agricultural production (yield change) and international food prices, unless proper mitigation measures are implemented, by 2050 Brazil and Mexico may face accumulated economic loses between US$ 272.7 billion and US$ 550.6 billion and between US$ 91.0 billion and US$ 194.7, respectively. Peru, with a different productive structure, may face both economic gain and loss (a gain of US$11.0 billion against a loss of US$ 43.3 billion).