I am sure there are a great number of good bands coming out of that hemisphere. On a related note, I gotta say that Davilla 666 is a really cool group from Puerto Rico (I believe) with all lyrics sung in Spanish. This band seems to be doing a decent job of crossing international borders and breaking into the American market, and their kick-ass album on In The Red Records probably really helps.
It appears that we Americans don't hear much from South of the border. It is not surprising to hear European bands playing "American music", but I don't seem to notice too many bands from the South. It is like an odd "iron curtain" that keeps those bands out of our cultural loop. It probably boils down to some form of strange/tacet racism in light of Americans' Euro-centricism.
I am not going to get all sociological about it here, but I just have a feeling that Americans may be missing out on a lot of great bands from that part of the world. Does anybody have any good and easily accessible sources for finding out about this kind of music? Maybe La Bicicleta can give us some links to podcasts, etc...