Although known since time immemorial, psychiatric symptoms related to combat exposure and other war experiences have only been systematically studied in recent decades. Posttraumatic Stress Disorder (PTSD) was formally included as an autonomous clinical entity, only in the 1980's Third Edition of the American Psychiatric Association's Diagnostic and Statistical Manual of Mental Disorders (DSM-III). Most of the information on which this inclusion was based originated from studies with American veterans of the Vietnam War (1965-1975). Diagnostically, the concept of traumatic event has been expanded to experiences other than combat exposure, and presently the inclusion of PTSD among the anxiety disorders is questioned. Recent epidemiological findings are examined, with prevalence figures between 12 and 30 %, 15 to 25 % evolving into chronicity and an equally high number of veterans becoming victims of serious social problems. Clinical correlates between PTSD and other psychiatric disorders and its cultural implications have also been studied. Future research will focus on neurobiological and neuroimaging studies, multidimensional treatment approaches, and cultural-epidemiological studies applied to other traumatic experiences. In all these fields, it is estimated that Latin American psychiatry's contributions will have a significant impact. © 2006 Sociedad de Neurolog Psiquiatry Neurocirugbr.