Argentina's central bank rolled out a broad package of economic measures on Monday to boost reserves, including a repurchase agreement, or repo, of up to $2 billion, Reuters reported. The move comes ahead of an expected review with the International Monetary Fund of the country's recently signed $20 billion loan agreement. Argentina agreed with the IMF to strengthen its net foreign exchange reserves by $4.4 billion by the first review of the program, and has said it will not purchase dollars locally to do so. By last December, those reserves were in the red.

Brazilian airline Gol formally exited its bankruptcy proceedings in the U.S. on Friday, setting the stage for fleet expansion and new flights and routes within Brazil and other countries, Chief Executive Officer Celso Ferrer said, Reuters reported. In 2024, Gol became the second Brazilian airline, after Latam in 2020, to seek chapter 11 bankruptcy protection in the United States as the sector grappled with debt burdens, a steep decline in passenger numbers during the COVID-19 pandemic, and aircraft delivery delays. Azul, a Gol competitor, filed for chapter 11 last month.

Brazil's government is expected to back a bill proposing a 10% cut to federal tax breaks, two sources told Reuters on Thursday, in a move that could allow it to scrap a controversial increase in the tax on financial transactions (IOF) proposed last month. The bill, which was proposed by lower house lawmaker Mauro Benevides, sets a 5% reduction in the value of tax benefits in 2025 and a further 5% cut in 2026, the proposal showed. The legislation also applies to fiscal and credit benefits.

Azul said it received interim court approvals related to the company’s chapter 11 petitions filed in the U.S., WSJ Pro Bankruptcy reported. The court granted approval for the Brazilian airline operator to access $250 million of its $1.6 billion debtor-in-possession financing after a first-day hearing.

Shares of airline Azul plunged on Wednesday after the Brazilian company filed for Chapter 11 bankruptcy protection in the United States, despite months of efforts to restructure mostly pandemic-era debt, Reuters reported. The filing, which may scupper a potential merger with peer Gol, makes the carrier the latest in a series of Latin American airlines to file for bankruptcy in the aftermath of the depression the industry suffered in the initial months of COVID-19. U.S-listed shares of Azul fell some 40% in premarket trade, making a 70% decrease in its stock year to date.

Brazilian renewable energy company Rio Alto Energias Renovaveis SA is working with financial advisory firm Laplace Finanças and law firm Felsberg Advogados as debt restructuring advisers, Bloomberg News reported. Laplace and Felsberg have been helping Rio Alto negotiate with its creditors to reach an agreement as the company seeks to avoid filing for bankruptcy protection.

Groups led by affiliates of Contrarian Funds, Gold Reserve and Vitol are working on improved offers for the parent of Venezuela-owned refiner Citgo Petroleum as the list of potential bidders narrows, Reuters reported. The three consortia, which participated in an earlier competition for setting a starting bid, have been in talks with banks to secure the financing needed for their offers in the court-organized auction of shares.

Brazilian airline Gol said on Tuesday its restructuring plan under Chapter 11 bankruptcy proceedings has been approved by a U.S. court, Reuters reported. The Brazilian carrier, which has been in bankruptcy proceedings since early 2024, told Reuters it expects to exit chapter 11 in June. Read more.