El Salvador reached a deal with the International Monetary Fund after four years of negotiations that were strained by the country’s adoption of Bitcoin as a legal tender, Bloomberg News reported. The Central American nation and the Washington-based lender agreed on a $1.4 billion loan program to be disbursed over 40 months, according to a statement by the IMF. In exchange, El Salvador had agreed to adopt measures that will improve its primary balance and help cut its debt-to-GDP ratio.

An organization that works to document what happened at a notorious residential school says it’s at risk of going bankrupt by the end of the month unless Canada makes a decision on whether it will fund the group’s work, the Canadian Press reported. The Survivors’ Secretariat, which works to uncover the truth about what happened at the Mohawk Institute, a residential school that operated in Brantford, Ont., also says the ministry of Crown-Indigenous relations is letting down survivors with the delays in processing its applications.

Price pressures in Canada unexpectedly eased in November even as core measures of consumer inflation remained sticky, leaving the door open to further interest-rate cuts in the new year but backing the central bank’s shift to a more measured approach, the Wall Street Journal reported. The consumer price index was unchanged last month, where economists expected a 0.1% advance after an acceleration to 0.4% growth the month before, Statistics Canada said Tuesday. That left annual inflation to cool slightly to 1.9% from 2% in October, where economists had expected it to remain.

Lion Electric Co., the Canadian maker of electric school buses, has failed to find new investor backing ahead of a deadline on the expiry of its credit agreements, the Globe and Mail. The manufacturer will therefore file for bankruptcy protection in a bid to restructure, it confirmed in a statement Tuesday. The Saint-Jérome, Que.-based company, one of the province’s big industrial hopes in the shift to electric vehicles, had been scrambling to secure new capital from new or existing investors and figure out a way to deal with a debt that’s ballooned to nearly US$300-million.

Sweden’s Intrum AB has struck an agreement with a noteholder group that could resolve a key obstacle in the debt collector’s bid to restructure in U.S. bankruptcy court, Bloomberg News reported. The company had “come to terms” with the group of debt holders ahead of a hearing in the US bankruptcy court, according to Andrew M. Leblanc, a company attorney. The agreement requires the consents of other parties, a process that’s currently underway, he said at a Monday hearing in Texas.

The Canadian government is weighing an export tax on certain commodities to the U.S. if President-elect Donald Trump fulfills his pledge of slapping a 25% tariff on all Canadian imports, the Wall Street Journal reported. Among the commodities that could be affected are energy products, most notably crude oil, potash and uranium, but no final decision has been made, the person said. Nearly all crude oil exported from Canada is bound for the U.S. Prime Minister Justin Trudeau said this week that Canada would retaliate against the U.S.

The Bank of Canada lowered its key interest rate by half a percentage point today but signalled a slower pace of rate cuts moving forward, the Canadian Press reported. The decision marked the fifth consecutive reduction since June and brings the central bank’s key rate down to 3.25 per cent. Forecasters were widely expecting the jumbo interest rate cut after the November labour force survey showed the unemployment rate rose to 6.8 percent.

The Biden administration transferred $20 billion to Ukraine on Tuesday, providing an urgently needed economic lifeline in the form of a loan that will be repaid using interest earned from Russia’s frozen central bank assets, the New York Times reported. The transfer of the funds comes as Ukraine is facing a period of grave uncertainty with President-elect Donald J. Trump poised to take office next month and Russia’s war continuing unabated. Mr.

GOL Linhas Aéreas Inteligentes S.A. and Abra Group Limited have announced a key step in GOL’s financial restructuring journey, AviationSourceNews.com reported. The airline will file an initial proposed chapter 11 reorganization plan with the U.S. Bankruptcy Court. The filing marks a critical step in addressing its financial challenges and positioning the airline for future growth. This strategic move follows a comprehensive Plan Support Agreement (PSA) signed on November 6, 2024, which involves GOL, Abra Group, their affiliated entities, and the unsecured creditors committee.