Chile's LATAM Airlines received backing by a majority of its unsecured creditors in its chapter 11 bankruptcy exit plan, the airline said on Friday, Reuters reported.

Colombia swapped internal public debt worth 2.6 trillion pesos ($641 million) in April, the second such operation this year and part of an effort to reduce amortizations and improve the country's debt profile, its finance ministry said on Thursday, Reuters reported. In the latest operation, the ministry traded TES securities coming due in 2023 for others tied to inflation which come due in 2035 and 2037 and peso-denominated paper coming due in 2042.

Junior creditors of LATAM Airlines Group SA are challenging its proposed reorganization plan, saying it improperly benefits the carrier's existing shareholders, such as Delta Air Lines, at their expense, Reuters reported. Objections were filed on Monday in Manhattan bankruptcy court ahead of a May 17 hearing at which LATAM’s lawyers will ask U.S. Bankruptcy Judge James Garrity to approve the proposal. The airline is seeking to raise $5.4 billion through its plan to exit chapter 11, which it filed two years ago as world travel halted amid the COVID-19 pandemic.

Colombian presidential candidate Federico “Fico” Gutierrez, the main challenger to leftist Gustavo Petro, is planning a tax reform to gradually increase revenue over 10 years, according to one of his top advisers, Bloomberg News reported. That will help fund an ambitious plan to boost growth, tackle infrastructure bottlenecks and build a million homes for low-income families, but without running up unsustainable debts that would scare off investors, said Manuel Fernando Castro, who is helping formulate the candidate’s economic program.

Industrial production in Brazil rose in March, but ended the first quarter with a negative print, highlighting the challenges for the sector amid problems in global chains and a domestic scenario marked by high interest rates and inflation, Reuters reported. Industrial output grew 0.3% in March from February, government statistics agency IBGE said on Tuesday, slightly above the 0.2% increase projected in a Reuters poll of economists. Still, it stood 2.1% below the level in February 2020, before the onset of the pandemic, the agency said.

For years, the bolivar drifted toward irrelevancy as Venezuelans embraced the economic stability brought on by the widespread use of the U.S. dollar, Bloomberg News reported. But the Socialist regime, always reluctant to fully turn its economy over to the dollar, is now making a surprise bid to revive the local currency. Emboldened by surging oil exports that are fueling economic growth and helping keep the foreign-exchange rate steady, the government is pushing Venezuelans to use the bolivar more by slapping a 3% tax on purchases made with dollars in shops, restaurants and grocery stores.

Argentine economy minister Martin Guzman said late on Friday that a $45 billion debt deal with the International Monetary Fund will not be modified, following a meeting with IMF head Kristalina Georgieva, Reuters reported. "We are not going to change the goals of the program with the IMF," Guzman told local media. The South American country's center-left Peronist government led by President Alberto Fernandez struck a staff-level agreement with the international lender at the beginning of March to avoid a default.

Creditors of Brazilian miner Samarco Mineracao SA, a joint venture of Vale SA and BHP Billiton Ltd, on Monday rejected the debt restructuring plan presented by the company in an online creditors assembly, Reuters reported. Creditors are expected to present an alternative plan for the debt restructuring within 30 days. Representatives of 99.3% of unsecured credits rejected the plan, while smaller creditors in different classes voted favorable to the company's plan.

Argentina’s inflation rate galloped to its fastest pace in March since 2002, challenging a strategy by the government’s to cool prices that already lacked support from within the ruling coalition, Bloomberg News reported. Consumer prices rose 6.7% last month compared to February, the highest level since Argentina was in one of its worst economic crises 20 years ago. Inflation reached 55.1% from a year ago, the highest annual level of President Alberto Fernandez’s presidency and most since June 2019. Both results were above all forecasts among economists surveyed by Bloomberg.

Peru’s foreign debt has touched record lows as a wave of social unrest amid quickening inflation upends a market once famed for its resilience to near-perpetual political crisis, Bloomberg News reported. Government bonds due in 2031 have tumbled 5.5 cents since early last week to trade at 89 cents on the dollar on Tuesday, lingering near an all-time low. The extra yield investors demand to hold Peru’s bonds over U.S. Treasuries, meantime, is at 194 basis points, versus just 165 a week prior, according to JPMorgan Chase & Co. data.