Brazil’s lower house will investigate the events leading up to the financial crisis at Americanas SA, the retail giant that went into bankruptcy protection in January after unveiling a massive accounting hole of 20 billion reais ($4 billion), Bloomberg News reported. Speaker Arthur Lira authorized the creation of an inquiry committee on Wednesday and party leaders will now nominate representatives to lead the probe.

Peru, the world's No. 2 copper producer, is seen posting economic growth of 2.5% this year, President Dina Boluarte said Wednesday, down from a prior forecast as the Andean nation reels from social protests and heavy rains in the country's north, Reuters reported. That would be down from the a prior government forecast in August of 3.5%. "There has been a negative impact due to the social unrest that has forced us to review growth" forecasts, Economy Minister Alex Contreras said at a cabinet meeting with Boluarte.

Colombia's civil aviation authority has formally approved a merger between Avianca, the Andean country's flag carrier, and Viva Air, the regulator said in a statement on Wednesday, Reuters reported. The merger is a lifeline for embattled Viva, which has struggled financially in the wake of the coronavirus pandemic and seen its situation worsen due to higher fuel prices in 2022 and the depreciation of Colombia's peso. The aviation authority has "confirmed the conditional approval of the integration operation," it said in a statement.

Brazil posted a current account surplus of $286 million in March, the strongest data for the month in 17 years, boosted by a strong trade balance performance, central bank data showed on Tuesday, Reuters reported. The trade balance had a positive balance of $9.48 billion, the highest figure in the entire series, driven by a significant increase in exports, with emphasis on booming shipments of oil and soybean. This led the current account to record its first positive balance since June 2022, with a March surplus being the first since 2006.

Brazilian telecom firm Oi SA said late Friday it decided to postpone the release of its 2022 financial statements to May 22, after an expected presentation of its judicial reorganization plan, Reuters reported. The company, which entered into a second bankruptcy protection in March just months after it emerged from similar proceedings, said the delay was mainly due to ongoing negotiations with a group of its financial creditors. Oi, however, release preliminary figures showing that it had consolidated net revenue of 2.62 billion reais ($518.96 million) in the fourth-quarter of last year.

Brazil's government announced a package of 13 measures on Thursday to ease consumer access to credit and reduce associated costs in the capital and insurance markets, a move the new leftist administration hopes will boost investment and revitalize a slowing economy, Reuters reported. Among the measures is the federal government's proposal to provide counter-guarantees for public-private partnership projects at the state and municipal levels, the Finance Ministry said in a presentation.

The holding company for Avianca Group International Ltd., a Colombian airline that filed for bankruptcy during the pandemic, is planning an initial public offering as revenue roars back, Bloomberg News reported. “Without a doubt the IPO makes sense to support the group’s growth,” Avianca’s head of investor relations Maria Cristina Ricardo said in an interview. The plan is for Abra Group Ltd. to sell shares in New York or London in the next 12 to 18 months, she added. Air travel in Latin America has rebounded to pre-pandemic levels, according to data from OAG Aviation.

Brazil's government reversed a decision to end tax exemption on foreign shipments targeting Asian e-commerce giants, a measure aimed at improving public finances that faced backlash from lower-income Brazilians, a crucial part of the new government's electorate, Reuters reported. Speaking to reporters on Tuesday, Finance Minister Fernando Haddad said that President Luiz Inacio Lula da Silva had asked him not to proceed with ending the tax exemption for international orders from individuals.

Brazil's government is working on additional revenue measures to be announced in the second half of this year, said Revenue Chief Robinson Barreirinhas on Monday, highlighting confidence that this set of actions will improve public accounts, Reuters reported. Speaking at a news conference on the 2024 budget bill, Barreirinhas stated that the measures would be additional to those already announced by Finance Minister Fernando Haddad and that "strategic issues" are involved in the timing of their disclosure.

Brazilian Finance Minister Fernando Haddad said on Monday the government is going to announce this week measures to improve credit conditions in the country, including one regarding revolving credit card rates, Reuters reported. Revolving credit card rates are the interest consumers must pay when they cannot pay their credit card bills in full, pushing unpaid amounts into future installments. Talking to reporters ahead of a meeting with the Brazilian banking federation, Haddad said that the ministry will launch 14 measures to improve the credit environment.