Many are speculating about the true colors of Latin America’s much-heralded “pink tide.” Just how close to socialist “red” are the region’s new left-leaning governments? This Report approaches the question from a different angle: Do the new governments promote the rights of women and lesbian, gay, bisexual and transgender (LGBT) people, who are often associated with the color pink? We take a critical look at the opportunities and obstacles that Latin America’s shifting political context presents to Latin Americans who challenge sexism, homo- and transphobia, and their intersection with class and ethnic/racial exclusion. Without providing easy answers, the contributors to this issue—including journalists, academics and activists from Argentina, Bolivia, Brazil, Chile, Nicaragua, Uruguay and Venezuela—analyze the potential for change in the new environment.