Don't be naive. The similarities are superficial--mustachioed, middle-aged, male--and they can all be attributed to the United States' history of intervening in the politics of Latin American countries--a la the "Monroe Doctrine"--often installing leaders who are friendly to American business interests, but monstrous as leaders.
When the US fails to get their man in charge, we then engage in propaganda campaigns to demonize the democratically elected alternatives, manufacturing consent for further interference.
Either way, there are always news clips demonizing Latin American leaders, and so video games can safely use this trope to create a villain that doesn't piss off any of its American market.
https://imgur.com/a/msxAQxb