Brazil's government on Tuesday unveiled a long-promised plan to exempt individuals earning up to 5,000 reais ($881.27) per month from income tax, with the revenue gap set to be covered by new levies on high earners and profits and dividends sent abroad, Reuters reported. The proposal, initially announced late last year when it triggered a negative market reaction over fiscal concerns, was one of President Luiz Inacio Lula da Silva's key campaign promises, and is now seen as crucial for the president to regain popularity amid declining approval ratings.

Argentina's economy is expected to have registered year-on-year growth in the fourth quarter of 2024, ending six consecutive quarters of year-on-year contraction and further lifting it out of recession, a Reuters poll of analysts showed on Monday. The average forecast from 15 local and international analysts showed Argentina's gross domestic product (GDP) expanding 1.7% in the last three months of 2024. "It's the first positive sign after six consecutive quarters of (year-over-year) contraction," said Pablo Besmedrisnik, economist and director of VDC Consultants.

A lawyer argued Thursday that global mining giant BHP Group should be held liable for Brazil’s worst environmental disaster 10 years ago when a dam collapse poured tons of toxic mining waste into a major waterway that killed 19 people and devastated villages, the Associated Press reported. High Court Justice Finola O’Farrell said she would rule later in the class action case in which claimants are seeking 36 billion pounds ($47 billion) in damages from Australia-based BHP. The case was filed in Britain because one of BHP’s two main legal entities was based in London at the time.

Brazil's Finance Minister said on Wednesday that the country would not immediately retaliate against tariffs imposed by the United States on steel and aluminum imports, instead seeking talks, with the government noting it will consider all actions, Reuters reported. U.S. President Donald Trump's increased tariffs on all steel and aluminum imports took effect on Wednesday, stepping up a campaign to reorder global trade in favor of the U.S. and drawing swift retaliation from Canada and Europe.

Peru’s new finance minister is pushing an array of tax incentives early in his tenure in a bid to boost economic growth to its fastest pace in seven years, excluding the pandemic rebound, Bloomberg News reported. Jose Salardi, who took over the finance ministry five weeks ago, is eyeing four key sectors for tax incentives: agriculture, forestry, fishing and the creation of a special economic zone near the recently inaugurated $1.3 billion Chancay port that is set to significantly boost commerce with China.

Brazilian coffee traders Atlantica and Cafebras, and its controlling holding company Montesanto Tavares Group, have filed a court request for bankruptcy protection, looking to restructure a total debt of 2.12 billion reais ($368.54 million), Reuters reported. According to a statement dated February 28, the first day of carnival celebrations in Brazil that only ended on Wednesday, the companies said failure by Brazilian coffee farmers to comply with contracts to deliver coffee to them made their financial situation unsustainable.

Argentine President Javier Milei has signaled an imminent agreement with the International Monetary Fund (IMF), aiming to secure fresh funding to stabilize the country’s fragile economy, the Rio Times reported. Speaking during his annual address to Congress, Milei framed the deal as essential for addressing Argentina’s chronic economic challenges, including inflation, currency restrictions, and fiscal imbalances. Milei’s government plans to use the IMF funds, estimated at $11 billion, to replenish the Central Bank’s depleted reserves and reduce Treasury debt owed to the Central Bank.

He is a college dropout who hawked energy drinks as a teen and sold Oreos to make rent. Under “skills” on LinkedIn, he listed “hustling expert.” Last month, Hayden Davis, 28 years old, became the face of the highest-profile cryptocurrency scandal since the implosion of FTX in 2022, one that has ensnared Argentine President Javier Milei, the Wall Street Journal reported. Propelled by self-confidence and networking savvy, Davis went from cookie seller to erstwhile crypto king, according to interviews and a review of more than a decade of social-media posts, podcasts and blog posts.

Argentina’s economy expanded more than expected in December, solidifying the country’s bounceback in the last quarter of the year under President Javier Milei’s watch, Bloomberg News reported. Economic activity rose 0.5% from November, more than the 0.2% median estimate of economists surveyed by Bloomberg. Monthly growth beat expectations the previous month, too. From a year ago, the gross domestic product proxy grew 5.5%, compared with the median estimate of 3.5%, according to government data published Tuesday.

Argentina’s President Javier Milei warned Telefonica SA that his government will review the phone carrier’s plan to sell its local operations to Telecom Argentina SA for a possible breach of anti-monopoly rules, Bloomberg News reported. Telefonica signed and closed the $1.25 billion deal on Monday after more than three decades in the country, according to a regulatory filing. The Spanish carrier has been working since late 2019 to cut its exposure to Latin America.