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Argentina and the IMF: Second Time's a Charm
By Advisor Perspectives
Capital Markets, Financial Services
Like shock therapy, Argentina’s new lending agreement with the IMF delivers immediate benefits: increased funding and front-loaded disbursements to meet the country’s budget through next year. It also comes with serious side effects, including a likely deep recession in Argentina and the risk of political resistance leading up to the country’s elections in 2019.
Still, from an investment perspective, we think the new IMF agreement improves on the initial program announced in July, and we see opportunities in segments of Argentina’s bond market where prices reflect the risks.
Read more at Advisor Perspectives.
Photo: Grant Stantiall