Brazil's central bank stated on Tuesday that current monetary policy requires "serenity and patience," indicating that worsening inflation expectations justified its decision to maintain a hawkish stance towards future steps, Reuters reported. In the minutes of the meeting held between March. 21-22, when the rate-setting committee known as Copom kept the benchmark rate at 13.75%, the central bank noted that the Finance Ministry's commitment to implementing fiscal measures and the reinstatement of fuel taxes have reduced the upside risk on short-term inflation.

The management team at Brazilian retailer Americanas SA told its external auditor and internal auditing committee as late as December 2022 that there were no supply-chain financing operations taking place at the firm, Bloomberg News reported. At the same time, executives gave the securities regulator CVM conflicting information, and a central bank system showed the account registering supply chain financing at the firm had ballooned to almost 17 billion reais ($3.2 billion).

Americanas SA, the embattled Brazilian retailer, proposed a plan to restructure its 42.3 billion real ($8.1 billion) debt load some two months after obtaining bankruptcy protection that includes losses for unsecured creditors, a capital injection and asset sales, Bloomberg News reported. The plan, released late Monday in a securities filing, foresees a capital injection of 10 billion reais and potential asset sales including its Hortifruti Natural da Terra food markets, stake in Uni.Co and corporate jet.

Brazil's jobless rate rose to 8.4% in the three months through January, statistics agency IBGE said on Friday, slightly above market expectations, Reuters reported. The median forecast in a Reuters poll projected an unemployment rate of 8.3%. In the previous three months, the rate was also at 8.3%. "This stability still would be a repercussion of the reduction in the demand for work in the months of November and December 2022 over the beginning of 2023," said research manager, Adriana Beringuy.

A Brazilian Senate committee on Tuesday extended formal invitations to central bank chief Roberto Campos Neto and five former executives from beleaguered retailer Americanas SA, asking them to provide details on a pair of sagas that have gripped the country in the opening months of Luiz Inacio Lula da Silva’s presidency, Bloomberg News reported. The Senate’s economic affairs committee wants Campos Neto to explain his position on Brazil’s benchmark interest rate, as Lula and his economic team continue to push for lower borrowing costs in an effort to boost economic growth.

Brazil's Finance Minister Fernando Haddad said on Wednesday his proposal for a new fiscal framework was now "at the presidential palace," but did not provide further details, Reuters reported. His remarks to reporters in Brasilia came after CNN Brasil reported he had delivered the framework to President Luiz Inacio Lula da Silva, a key step for the proposal to go forward as Haddad previously said Lula would have the final word on it.

Brazil's Finance Minister Fernando Haddad said on Monday that getting a new fiscal framework right would have a much more important impact on the economy than the discussion about inflation targets, Reuters reported. Haddad said he intended to present the framework to President Luiz Inacio Lula da Silva this week. "If we get the fiscal framework right, this has a much more important impact (than the discussion of inflation targets)," he said, when asked about possible changes to inflation targets.

LATAM Airlines reported a fourth-quarter net profit of $2.538 billion, the company said on Thursday, and said that the results reflected all financial renegotiations stemming from its bankruptcy proceedings, Reuters reported. The quarterly profit of South America's leading airline compares to a loss of $2.755 billion during the same three-month period a year earlier. However the company will propose not to pay out dividends and instead use its 2022 profits to offset accumulated losses, it said in a securities filing later on Thursday.

The turmoil in Brazil’s credit market has put several local bond sales on hold as banks and investors become more cautious with corporate borrowers in the aftermath of the sudden collapse of Americanas SA, Bloomberg News reported. Power company Coelba, a unit of Neoenergia SA, has pulled a planned debt sale after underwriters tapped the so-called “market flex” clause that allows for changes in conditions, according to people familiar with the matter. The firm had announced an issuance of 1.5 billion reais ($290 million) in local notes on Jan.