With 77 countries having submitted for consideration in Foreign Film Category at the 2015 Academy Awards, the Academy will now have to look through all the films and narrow it down to nine before announcing the five final Oscar nominees.

Of these countries, a number of them were Latin American. The following is a look at the Latin American contenders and which of the films can actually get nominated:

Argentina

Argentina has the strongest film in the competition with "Wild Tales." The submission was a festival darling and premiered at the Cannes Film Festival and later went on to open at the Telluride and Toronto Festivals. It was also picked up by Sony Pictures Classics and will be released in February. Famed director Pedro Almodovar also produced the film and while that does not guarantee an Oscar nomination, the director is very well-respected in the industry.

Brazil

Brazil also has a very good chance with "The Way He Looks." The film premiered at the Berlin Film Festival, where it premiered to rave reviews and was instantly acquired by Strand Releasing. The movie is being released this year, and, as a result, it will qualify for other awards. Strand does not have a huge relationship with the Academy, but this new release is one that was well regarded internationally.

Chile

Chile's "To Kill a Man" is also one of the strongest contenders especially after having won Sundance. It also got picked up by Film Movement for distribution. There is no current release date but Chile has submitted strong contenders in the past few years and this one will definitely factor into the competition this year.

Cuba's "Behavior," Dominican Republic's "Cristo Rey" and Uruguay's "Mr. Kaplan" could figure into the race, as they were showcased in some of the major festivals. "Cristo Rey" and "Behavior" premiered at the Toronto Film Festival. Meanwhile, "Mr. Kaplan" was showcased at the Torino Lab program and also participated at Cannes lab. "Mr. Kaplan" may not have premiered at these festivals, but it garnered exposure and buzz from these programs.

Spain's "Living Is Easy with Eyes Close" is an interesting proposition, as it premiered at San Sebastian. While that is a prominent festival, the Academy rarely chooses films from this festival. The movie, however, has a U.S. distributor and it is slated to open in the next months. Perhaps its international exposure could be a good factor.

Bolivia's "Olivados," Colombia's "Mateo" and Panama's "Invasion" are regarded as dark horses. Neither one of these films premiered at the elite festivals which include Toronto, Cannes, Sundance, Berlin, Venice, Telluride or Tribeca. When the Academy selects its nominees, it usually hopes for a film that has been shown internationally and has been honored by the best festivals. As a result, these movies are unlikely to show in the nine shortlisted films.

Two countries arguably sent the wrong movies. Venezuela submitted "The Liberator," which scored terrible reviews and while it was released in the U.S., it flopped. Mexico submitted the box office hit "Cantinflas," but that movie also scored horrible reviews. Both these countries had better options that had attention at the festival circuit and were better candidates for the Academy Awards.

Ecuador also opted for "Silence in Dreamland," a movie that garnered a small international festival run. However, their other option "Holiday" premiered at Berlin to formidable reviews and was well respected.

The Academy announces its nominations in January with only five films making the list. Do you think Latin America has a chance this year?

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