Brazilian airline Gol released a revised five-year strategic plan on Wednesday as it prepares to exit chapter 11 bankruptcy proceedings, saying that the new forecasts would serve as a base for its reorganization, Reuters reported. Gol said in a securities filing that it expects to emerge from chapter 11 in May, and sees its net leverage "substantially improving" going forward as it rebuilds its network and returns to "normal levels" of core earnings by next year.

Argentina's central bank will slow the rate of the local peso's devaluation, it said on Tuesday, after new data showed annual inflation slowing in December and as the central bank sees continued progress on inflation, Reuters reported. Beginning in February, the rate, known as the crawling peg, will slow to 1% per month from a prior rate of 2% due to "the consolidation observed in the inflationary trajectory during the last few months, and in the expectations of a decrease in inflation," the central bank said in a statement.

Argentina paid international bondholders before a Thursday deadline, marking another step in President Javier Milei’s efforts to restore investors’ confidence in the serial defaulter, Bloomberg News reported. The government had some $4 billion worth of debt, between principal and interest payments, due on a slate of hard-currency notes. The payment included some $2.65 billion of credits issued under New York law in a 2020 restructuring. Finance Secretary Pablo Quirno said on a post on X Thursday morning that the government made its debt payments, without giving further details.

Chile’s consumer prices fell last month for the first time since June, giving the central bank only limited relief as it monitors inflationary threats including higher electricity tariffs and a weak currency, Bloomberg News reported. Prices fell 0.2% in December, below all forecasts in a Bloomberg survey of analysts that had a median estimate of no change. Annual inflation accelerated to 4.5%, the national statistics institute reported on Wednesday. Central bankers led by Rosanna Costa have cut borrowing costs by 6.25 percentage points since mid-2023 to the current level of 5%.

Brazil’s industrial output fell for the second straight month, signaling that tight financial conditions are taking toll on the credit-dependent sector as the central bank prepares to take interest rates even higher, Bloomberg News reported. Production declined 0.6% in November from the month prior, just less than the median estimate of a 0.7% drop from analysts in a Bloomberg survey. Industry gained 1.7% from a year earlier, the national statistics agency reported Wednesday. Read more.

Brazil's government said on Friday it has reached deals with two of the country's largest airlines, Gol and Azul, to settle some pending tax obligations totaling 7.5 billion reais ($1.22 billion), Reuters reported. The government has provided the carriers with significant discounts and allowed them to make installment payments. The deal may provide financial relief to the companies. Latin American airlines have been facing financial hurdles in the wake of the COVID-19 pandemic and were forced to restructure obligations as they struggle with high debt loads.

Argentina's state airline, Aerolineas Argentinas, is slimming down for a potential sale, shedding 13% of its staff, cutting money-losing domestic routes and even removing snacks formerly available to passengers, according to sources and documents seen by Reuters. The cutbacks, many of whose details were previously unreported, are part of a backdoor attempt to trim the airline's burden on the state and lure private investment. The drive is progressing, even though libertarian President Javier Milei's plans to privatize the firm have generated pushback.

Argentina unveiled a $1 billion repurchase agreement with five international lenders that will help replenish foreign reserves at its central bank, a key victory for President Javier Milei as he works to stabilize South America’s second-largest economy, Bloomberg News reported. The deal, commonly known as a repo, will be in place for two years and four months, the monetary authority said Friday in a statement, without naming the banks. Citigroup Inc. participated in the repo, according to two people with direct knowledge of the matter.

Lawsuits by three firms seeking to improve their chances of obtaining proceeds in an auction of shares in Citgo Petroleum's parent can go ahead, a U.S. judge ruled in an order issued on Monday, Reuters reported. The decision could reduce the proceeds of any sale, the court officer overseeing the auction in federal court in Delaware had said in a motion seeking to block the parallel lawsuits. Shares in Citgo parent PDV Holding are being auctioned to repay $21 billion in claims for debt defaults and expropriations by Venezuela and state oil firm PDVSA. PDV is a U.S.

Brazilian assets finished the year lagging all major peers, with the real posting its biggest slump since the pandemic shock of 2020 amid mounting skepticism over President Luiz Inacio Lula da Silva’s commitment to fix a ballooning budget deficit, Bloomberg News reported. The real weakened 21% against the US dollar this year, the worst among 31 major currencies alongside Argentina’s tightly controlled peso. Losses accelerated in November after a long-awaited fiscal package underwhelmed investors.