Strategic planning is a particular approach to planning, originally associated with the business world. In the early 1970s, Latin America and the Caribbean began to discuss this concept. However, this approach became popular relatively recently (mid-80´s onwards), as it became an essential component of the reform processes in the Public Sector of that region. Those processes were grounded on compliance with conditionalities (conditions attached to a loan, debt relief, bilateral aid or membership in international organizations, especially by, or in, international financial institutions, such as the World Bank and Inter-American Development Bank). This paper will present a general overview of the advances in Strategic Planning of the Public Sector in Latin America. First, in general, and then it focuses on selected countries´ initiatives (Brazil, Chile, Colombia, Cuba and Dominican Republic). It will evaluate which (if any) advances had thusly been achieved. Its ultimate goal is to present a balance of the current state: achievements, shortfalls, and failures, thereby enabling us to redefine the paradigmatic architecture of strategic planning in the Public Sector. Ideally, this will enable us to rediscover its roots and to improve the tools and techniques for its operation and further evaluation. The main idea is to present a historical perspective of the evolution of planning in the region: from its inception (however limited or impaired) to the present day; with its resurgence and revitalization, based largely on the introduction of the concept of a Strategic Plan. Supporting data come from various sources: specialized bibliography and first hand knowledge. Further documentary research was conducted, in order to support various points of view and arguments. In sum, this paper emphasizes the risks of planning in the Public Sector today, and its potential devolution into the disreputable status it enjoyed in the region in decades gone by.