I recently started watching a few Latin American films. I attended a film festival in Newport Beach and they played Sexo, Pudor, Y Lagrimas (Sex, Shame, and Tears) and let me tell you.............wow! 
What a great movie. For me it was new, but it came out two years ago in Mexico. Also I have seen Santitos.... what a terrific film. The one I have been trying to see is called La Otra Conquista (The Other Conquest). Many of these films are under appreciated. Especially Amores Perros. This film was nominated for the Oscars, but lost to freaking Crou Tig, Hid Drag. A childish movie compared to Amores Perros. I hope that the Latin American cinema thrives, since there are many talented actors, directors, and writers. Si se puede, si se puede!