N-CSRS/A

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM N-CSR

   CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File No.              811-6094
                               -------------------------------------------------

             THE LATIN AMERICA EQUITY FUND, INC.
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             (Exact Name of Registrant as Specified in Charter)

             466 Lexington Avenue, New York, New York 10017-3140
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             (Address of Principal Executive Offices)      (Zip Code)

             Hal Liebes, Esq.
             The Latin America Equity Fund, Inc.
             466 Lexington Avenue
             New York, New York 10017-3147
        ------------------------------------------------------------------------
             (Name and address of agent for service)

Registrant's telephone number, including area code: (212) 875-3500
                                                   -------------------
Date of fiscal year end: December 31, 2003
                        --------------------------
Date of reporting period: January 1 to June 30, 2003
                         --------------------------------



ITEM 9. CONTROLS AND PROCEDURES.

        (b) There were no changes in Registrant's internal control over
        financial reporting (as defined in Rule 30a-3(d) under the Act) that
        occurred during the Registrant's last fiscal half-year that have
        materially affected, or are reasonably likely to materially affect, the
        Registrant's internal control over financial reporting.

ITEM 10. EXHIBITS.

        (a)(2) The certifications of the Registrant as required by Rule 30a-2(a)
        under the Act are exhibits to this report.

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

                  The Latin America Equity Fund, Inc.

                  /s/ Joseph D. Gallagher
                  --------------------------------------------------------------
                  Name:  Joseph D. Gallagher
                  Title: Chief Executive Officer
                  Date:  September 4, 2003

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.

                  /s/ Joseph D. Gallagher
                  --------------------------------------------------------------
                  Name:  Joseph D. Gallagher
                  Title: Chief Executive Officer
                  Date:  September 4, 2003

                  /s/ Michael A. Pignataro
                  ------------------------
                  Name:  Michael A. Pignataro
                  Title: Chief Financial Officer
                  Date:  September 4, 2003

EX-99.CERT

                                                                      EX-99.CERT
Exhibit 10(a)(2)

CERTIFICATIONS

I, Michael A. Pignataro, certify that:

          1.   I have reviewed this report on Form N-CSR of The Latin America
Equity Fund, Inc.;

          2.   Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

          3.   Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in net assets,
and cash flows (if the financial statements are required to include a statement
of cash flows) of the registrant as of, and for, the periods presented in this
report;

          4.   The registrant's other certifying officer(s) and I are
responsible for establishing and maintaining disclosure controls and procedures
(as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the
registrant and have:

          (a)  designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;

          (b)  evaluated the effectiveness of the registrant's disclosure
controls and procedures and presented in this report our conclusions about
the effectiveness of the disclosure controls and procedures, as of a date within
90 days prior to the filing date of this report based on such evaluation; and

          (c)  disclosed in this report any change in the registrant's
internal control over financial reporting that occurred during the
registrant's most recent half-year (the registrant's second fiscal half-year
in the case of an annual report) that has materially affected, or is
reasonably likely to materially affect, the registrant's internal control over
financial reporting; and

          5.   The registrant's other certifying officer(s) and I have
disclosed to the registrant's auditors and the audit committee of the
registrant's board of directors (or persons performing the equivalent
functions):

          (a)  all significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are
reasonably likely to adversely affect the registrant's ability to record,
process, summarize, and report financial information; and



          (b)  any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
control over financial reporting.

Date:  September 4, 2003


/s/ Michael A. Pignataro
- ------------------------

Michael A. Pignataro
Chief Financial Officer

I, Joseph D. Gallagher, certify that:

     1.   I have reviewed this report on Form N-CSR of The Latin America Equity
Fund, Inc.;

     2.   Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

     3.   Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations, changes in net assets, and cash
flows (if the financial statements are required to include a statement of cash
flows) of the registrant as of, and for, the periods presented in this report;

     4.   The registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and
have:

     (a)  designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;

     (b)  evaluated the effectiveness of the registrant's disclosure controls
and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report based on such evaluation; and



     (c)  disclosed in this report any change in the registrant's internal
control over financial reporting that occurred during the registrant's most
recent half-year (the registrant's second fiscal half-year in the case of an
annual report) that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial
reporting; and

     5.   The registrant's other certifying officer(s) and I have disclosed
to the registrant's auditors and the audit committee of the registrant's board
of directors (or persons performing the equivalent functions):

     (a)  all significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant's ability to record, process,
summarize, and report financial information; and

     (b)  any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal control
over financial reporting.

Date:  September 4, 2003

/s/ Joseph D. Gallagher
- -----------------------

Joseph D. Gallagher
Chief Executive Officer