The report investigates the state of the art, challenges and opportunities of the circular water economy in 10 Latin American countries, namely: Argentina, Brazil, Chile, Colombia, Costa Rica, Honduras, Mexico, Paraguay, Peru, and Uruguay. The circular approach to water management consists of reducing water use in production and consumption processes, enhancing water efficiency, promoting water re-use and recycling, and recovering energy and materials from wastewater treatment. Guided by the OECD Principles on Water Governance, the report evaluates governance gaps and offers policy recommendations to establish regulatory frameworks, financing mechanisms, and capacity-building measures necessary to transition from a linear to a circular water economy.