Should Argentina be Welcomed Back by Investors?
The search for higher yields has prompted bond investors to venture into increasingly risky territory, such as single-B-rated credits â€“ Argentina among them, the country involved in the largest sovereign default in history. In the authorâ€™s view, investors should approach investment opportunities in Argentina with extreme caution. The governmentâ€™s ability to service its financial obligations remains quite limited, and its attitude towards official and private creditors remains one of contempt. The country is ranked uniformly low in various measures of the business climate, competitiveness, transparency, corruption and economic liberty. It is thus classified correctly as a very risky credit by the leading rating agencies.
Volume (Year): 12 (2011)
Issue (Month): 3 (July)
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