Russia and Venezuela may sign an agreement on restructuring Venezuelan debt by the end of the year if terms drafted by their finance ministries are approved, said Russian Finance Minister Anton Siluanov. “In general, we worked out with the finance ministry such conditions,” Siluanov told reporters in Washington, where he attended the International Monetary Fund fall meeting, Bloomberg News reported.

When it comes to companies saddled with multibillion-dollar fines, Oi SA sits on a very short list. But the Brazil telecom giant stands out in the notorious club that includes Volkswagen AG, Odebrecht SA and BP Plc. The German carmaker and Odebrecht, a Brazilian builder, each got hit with mega fines after years-long schemes that swindled governments and consumers, Bloomberg News reported. Odebrecht’s misdeeds even helped tip Latin America’s largest nation into a two-year depression that reduced gross domestic product by almost 10 percent. And Oi’s sin? It didn’t fix phone booths fast enough.

Investors are gaining confidence that Venezuela will make its next big bond payments. Notes from the state oil company that mature in November climbed to 94.5 cents on the dollar Wednesday, a three-year high, while amortizing bonds due in 2020 rose to their highest price since they were issued last year, Bloomberg News reported. There’s a $985 million payment due Oct. 27 for the 2020 bonds, and $1.2 billion due Nov. 2 on the securities maturing next month.

Brazilian phone carrier Oi SA submitted a plan on Wednesday to restructure its 65.4 billion-real ($21 billion) debt burden with a proposal to limit the debt-for-equity swap demanded by creditors to 25 percent of capital, Reuters reported. The plan was delivered to a Rio de Janeiro court and creditors of the largest-ever bankruptcy proceeding in Latin America will vote on it on Oct. 23. Oi proposes to inject up to 9 billion reais, of which 6 billion reais would come from a stock offering and the rest through the debt-for-equity swap.

Brazilian phone carrier Oi SA’s board has approved a plan to cut a 65.4 billion-real ($21 billion) debt burden that includes a capital injection, in an effort to emerge faster from bankruptcy protection and avert a government intervention, a person with knowledge of the matter said on Tuesday. According to the person, who requested anonymity because the matter remains private, Oi’s largest shareholders have agreed with a management proposal to inject 9 billion reais into the carrier, part of it through a debt-for-equity swap, Reuters reported.

The Brazilian government is seeking 40 billion reais ($12.7 billion) from construction and engineering conglomerate Andrade Gutierrez SA to settle claims related to its participation in a graft scheme, newspaper O Globo reported on Sunday. Citing calculations from members of the Office of the Attorney General and the Office of the Comptroller General, O Globo said the fine is a condition for the signature of a leniency agreement that would allow the firm to continue bidding for government contracts, Reuters reported.

Egyptian billionaire Naguib Sawiris said on Thursday he has put his interest in investing in Oi SA on hold because of infighting and a lack of decision-making at the debt-laden Brazilian mobile carrier. Sawiris would consider an investment via Orascom TMT Holdings SAE, the carrier he controls, should creditors and shareholders of Rio de Janeiro-based Oi settle their disputes, he told Reuters on the sidelines of a conference in Capri, Italy.

Venezuela will fulfill its sovereign-bond obligations even though U.S. sanctions are affecting its ability to conduct normal debt relations, said President Nicolas Maduro. Maduro spoke at the Russian Energy Week conference in Moscow on Wednesday as his nation’s struggling economy becomes increasingly reliant on the Kremlin’s support, Bloomberg News reported. The Latin American oil producer is struggling to meet its financial obligations and remains on course for a fourth consecutive year of economic contraction in 2017, according to Fitch Ratings.

Oi SA’s bankruptcy saga took a new twist this week as Chief Financial Officer Ricardo Malavazi Martins resigned, prompting a rebuke from Brazil’s telecommunications regulator. Juarez Quadros, president of the regulator known as Anatel, told reporters Tuesday the departure is “worrisome” and said it worsens an already bad situation for the phone giant mired in $19 billion of debt, Bloomberg News reported.

Venezuelan investors are getting ready for a wild ride over the next five weeks as the government stares down $3.5 billion in debt payments, Bloomberg News reported. While all the country’s due dates in the past year have elicited serious hand-wringing, the next few are on a whole new level. That’s because unlike recent transactions in which a 30-day grace period allowed Venezuela to avoid default, the upcoming deadlines have no leniency. Further complicating matters, some of the bonds are backed by a majority stake in Citgo Holding Inc., potentially putting one of the biggest U.S.