The war on drugs has failed. The results are being felt in Latin America more than anywhere else. Hence, the debate about the reform of drug policies has gained momentum there. Based on studies commissioned by the Friedrich-Ebert-Stiftung, Latin American experts developed proposals for the whole value chain, from cultivation to trade and consumption, differentiated by type of drug. The proposals aim at reducing harm caused by drugs and the current repressive drug regime. Moreover, they strive to reduce revenues for organized crime and create income for states, so as to change the resource balance and to enable states to invest in health programs and in the fight against cartels. The paper at hand summarizes the studies' proposals in order to enrich the German and European debate.