What are the reasons for the weakness of the former colonies of Latin America?

The struggle for the independence of the countries of Latin America stretched for the whole 19th century (in 1898 Cuba became independent from Spain). However, the main countries gained independence during the Spanish colonial crisis in the first quarter of the 19th century. At this time, an industrial revolution took place in Europe. In this regard, the former Spanish, and now independent owners of various industries, did not begin to promote these ideas, but continued to supply the former metropolises with various raw materials, stimulating their rapid development and slowing down the development of the former colonies in Latin America.