Brazil's Nubank on Wednesday announced plans to release its own cryptocurrency as part of a new customer rewards program, Reuters reported. Warren Buffett-backed Nubank said in a statement the Nucoin digital currency is expected to be launched in the first half of 2023. Its goal is to offer customers benefits such as discounts and perks as they accumulate Nucoins.

Economic activity in Brazil fell much more than expected in August, a central bank index showed on Monday, confirming expectations of a slowdown in the second half, Reuters reported. The IBC-Br economic activity index, considered a leading indicator of gross domestic product, fell a seasonally adjusted 1.13% in August from July, more than double the 0.5% drop expected by economists polled by Reuters. In August, activity services growth once again beat expectations. The sector accounts for about 70% of the Brazilian economy and has been vital in the recovery after the pandemic.

LATAM Airlines, the biggest carrier in Latin America, said it plans to conclude its exit from bankruptcy on Nov. 3, Reuters reported. "This process will allow the group to emerge more agile, with a more competitive cost structure, adequate liquidity to face the future, with approximately $10.3 billion in equity, and close to $6.9 billion in debt," the company said in a statement late on Friday. LATAM filed for chapter 11 in 2020 after airline travel was hammered during the pandemic, and it won court approval that June.

A federal appeals court deferred ruling on whether U.S. bondholders have valid claims over Venezuela’s prized oil refiner Citgo Petroleum Corp., instead asking New York state’s highest court to decide on the disputed $1.7 billion debt, WSJ Pro Bankruptcy reported. The Second Circuit Court of Appeals in New York asked for guidance on whether bondholders are entitled to seize the controlling stake in Citgo they hold as collateral after Venezuela’s opposition movement stopped making payments on bonds secured by the Houston-based refiner.

Argentina's monthly inflation rate came in at 6.2% in September, the government's INDEC statistics agency said on Friday, slower than a month earlier and undershooting analyst forecasts of a 6.7% increase, a rare positive for the embattled economy, Reuters reported. Inflation in the 12 months through September hit 83%, as the South American country fights to rein in surging prices that are sapping people's wages and savings. Prices were up 66.1% in the first nine months of the year.

Argentina's economy minister Sergio Massa said on Thursday that he will meet Paris Club officials on Oct. 27 and 28 in France to wrap up negotiations over $2 billion in debt that the country owes to the creditor group, Reuters reported. Talks will include the repayment schedule and the interest rate for the loan from the creditors which include the governments of the United States, Germany and Italy. The Paris Club last year gave Argentina more time to repay the debt, which allowed Buenos Aires time to negotiate a revamp of its IMF program.

Brazilian presidential candidate Luiz Inacio Lula da Silva has proposed a broad consumer debt renegotiation program backed by government guarantees, aimed at relief for lower-income families if he wins an Oct. 30 runoff election, a senior adviser said, Reuters reported. Economist Guilherme Mello, who is advising Lula's Workers Party, told Reuters the government would partially guarantee renegotiations of up to 95 billion reais ($18.2 billion) of non-bank debts such as power, water, retail and phone bills, for consumers earning up to 3,600 reais ($677) per month.

Chile’s central bank raised its interest rate by 50 basis points, saying borrowing costs have reached the highest level of its tightening cycle and that they will remain steady to ensure inflation eases to target, Bloomberg News reported. Policymakers voted unanimously to lift borrowing costs to 11.25% late on Wednesday, as expected by most analysts in a Bloomberg survey. In a statement, board members reaffirmed their commitment “to conduct monetary policy with flexibility” to put inflation on a path to their 3% goal.

LATAM Airlines detailed a financing plan on Wednesday that the company hopes will finalize its exit from bankruptcy in the first week of November, Reuters reported. The company filed for chapter 11 in 2020 after airline travel plummeted during the pandemic and won court approval that June. The reorganization plan would inject about $8 billion into the airline through a combination of capital increase, issue of convertible bonds and new debt.

Argentina's inflation rate likely eased slightly in September to 6.7%, a Reuters poll of analysts showed, but remained stubbornly high overall, supporting forecasts that it could top 100% this year, the highest annual level since the early 1990s, Reuters reported. That monthly rate would be lower that a 7% price rise in August and a July peak of 7.4%. The South American country has been battling to bring down one of the world's highest inflation rates. The projections were made by 16 analysts surveyed by Reuters, with estimates ranging between 6.5% and 7%.