The core of democracy is the unpredictability of the outcome of the elections. If risk rating agencies are (as they are) factoring that in as a risk, they are considering democracy a risk (no pretense of discovery here).
Measuring #Argentina’s G-20 payoff in country risk change is odd. The upside of successfully hosting is real, but subtle, long-term and unable to erase jitters about high dollar debt, necessary but politically challenging deficit reduction, and an unpredictable election.
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