Small but sound sovereigns attract cash-rich investors

Small but sound sovereigns attract cash-rich investors

Headline: Small but sound sovereigns attract cash-rich investorsSource: EuromoneyDate: December 2001Author: Felix Salmon It’s not all bad. The world of international finance works in mysterious ways, and right now it looks as though central America is actually a beneficiary of Argentina’s default and the US recession. No-one expected this. After the Mexican economic crisis of […]

Headline: Small but sound sovereigns attract cash-rich investors
Source: Euromoney
Date: December 2001
Author: Felix Salmon

It’s not all bad. The world of international finance works in mysterious ways, and right now it looks as though central America is actually a beneficiary of Argentina’s default and the US recession.

No-one expected this. After the Mexican economic crisis of 1994-95, the tequila effect, as the subsequent contagion was known, devastated the Latin American region for years. But today, the tango effect of Argentina’s $95 billion bond default seems barely to have spilled over into Brazil.

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Small but sound sovereigns attract cash-rich investors

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