Brazil's central bank abstained from involvement in developing the government's comprehensive consumer debt renegotiation program unveiled on Monday, two central bank directors said on Tuesday, Reuters reported. Speaking at a news conference, Renato Gomes, the director of the financial system organization, said that policymakers solely furnished information without actively contributing to the program's design.

Brazil’s securities regulator filed the first charges involving the accounting scandal and bankruptcy at retail giant Americanas SA, Bloomberg News reported. The CVM, as the regulator is known, accused the company’s ex-chief executive officer Sergio Rial over “inconsistencies” in the disclosure of a 20 billion reais ($4 billion) accounting hole to the market.

A deal to rescue one of the biggest suppliers of soybean meal fed to livestock herds around the world is at risk of falling apart because of court delays and Argentina’s worst drought in living memory, Bloomberg News reported. The bankruptcy of Vicentin SAIC more than three years ago upended oilseed trading in Argentina, the top exporting nation of meal and of soy oil used in food and biofuels. After a tumultuous default that featured a botched nationalization and accusations of fraud by international lenders, Vicentin finally seemed to have secured its future.

Inflation in Peru could see a "greater deceleration" in June and July after higher-than-expected inflation last month, Peru's Economy Minister Alex Contreras said on Friday, Reuters reported. Official data published on Thursday showed consumer prices in the capital of Lima - seen as the national benchmark - rose 0.32% in May, slowing from 0.56% in April but above the 0.25% forecast in a Reuters poll.

Across Brazil’s dilapidated credit markets, investors are starting to whisper a new mantra in the face of double-digit interest rates and corporate malaise: The pain can’t last forever, Bloomberg News reported. The desperation for easier credit conditions is palpable nine months after central bankers in Latin America’s largest economy pinned their benchmark interest rates at 13.75%. Bond deals are still struggling to gain traction, bankruptcies are rising and investors keep on pulling cash out of Brazilian domestic bond funds.

Brazil’s economy roared back in the first months of 2023, lifted by bumper harvests that outweighed the drag of double-digit borrowing costs, Bloomberg News reported. Official data released on Thursday showed gross domestic product expanded 1.9% in the January-March period from the previous quarter, much more than the 1.2% median estimate of analysts surveyed by Bloomberg. From a year ago, the economy grew 4%. A rebound in Brazil’s agriculture and a strong labor market helped deliver far better results than economists had forecast at the start of 2023, though few see it lasting.

Chile’s economic activity remained flat in April, stoking bets that the central bank will start to lower the benchmark interest rate from an over two-decade high as early as July. Swap rates tumbled. The Imacec index, a proxy for gross domestic product, was unchanged on the month, below the 0.1% median estimate of analysts in a Bloomberg survey. From a year prior, it decreased 1.1%, the central bank reported on Thursday. Chile’s central bank has stuck to its hawkish stance, emphasizing that headline and core inflation remain well above its 3% target even as the economy stagnates.

Peru's inflation rate based on the metropolitan region of the capital Lima fell to 0.32% in May, government data showed on Thursday, but the rate of creeping consumer prices still came in above the 0.25% estimated by a Reuters poll. The slight uptick for inflation in May slowed from 0.56% in April, while inflation in the last 12 months reached 7.89%. Peru's central bank, as well as many economic analysts, use the metro Lima inflation rate as an accurate reference for prices nationwide.

Brazil's economy likely surged back to growth in the first quarter of the year, powered by record-breaking crops and solid crude oil output that more than offset the drag of subdued manufacturing activity, a Reuters poll of economists showed. Strong exports by commodities-producing sectors were seen adding to resilient private consumption in lifting gross domestic product (GDP), despite the negative effects of high interest rates and a worrying rise in government debt.

Brazil's newly introduced fiscal framework is stricter than they appear and will require a discussion of important spending cuts, Gabriel Galipolo, the executive secretary of the Finance Ministry, said on Tuesday, Reuters reported. Lawmakers in the lower house of Congress last week passed the main text of legislation that is set to replace the current spending cap, which has been breached several times in recent years to allow higher government spending.