Argentina is attracting some 1.8% of all the money invested in emerging markets’ capital markets, according to Saravia Financial Management, a Buenos Aires fund manager. In the 1990s, when Argentina was the darling of Wall Street, it attracted some 8% but this plummeted to 1% during the economic meltdown of 2001 and 2002.
High spread
According to the JPMorgan Emerging Market Bond Index, the country’s bond issuance has a 205-basis point spread over US treasuries, which is the second highest in Latin America after Ecuador (at around 700bp).
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