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As 1990 approaches, agreement is emerging about what must be done to tackle the major problems facing the Western Hemisphere. The central aim of this report is to advanceoand to reinforceothis gathering consensus at a time of political transition in the Hemisphere. Here are some of the report's recommendations: 1) The governments of the Hemisphere must move quickly to reduce Latin America's debt as an indispensable step toward reviving the region's economies; 2) The U.S. administration should move promptly to support the efforts of Central America's presidents to forge a secure peace; and 3) The drug trade must be vigorously fought throughout the Americas, but no quick or easy victories can be expected. In short, although our Hemisphere faces very difficult challenges, a consensus for action can be mobilized to confront these tough issues if the new governments in the Americas muster the political will to do so. Contents: Debt and Stagnation: A Program for Recovery; Central America: A Blueprint for Peace; Drugs: Getting Serious about Demand and Supply; Democracy at Risk. Co-published with The Inter-American Dialogue.