1/As #Argentina's country risk reaches new highs, the @ft's states #Macri's "approach to muddling through market volatility while keeping constituents happy is failing" as Argentina is "the world's second-riskiest sovereign borrower behind Venezuela."
https://ftalphaville.ft.com/2019/04/25/1556180002000/Argentina-is-on-the-brink/ …
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2/ The
@FT also notes that#Macri's brand as a pro-market candidate has taken a hit with the introduction of price controls. They note, "it sends a worrying signal to investors with painful memories of the former administration's penchant for economic unconventionality."1 reply 2 retweets 2 likesShow this thread
3/ Also, the change in the exchange rate policy may backfire later on as keeping the nominal exchange rate stable actually appreciates the real exchange rate. Worryingly, this may lead to "a sizeable, and potentially destabilising, adjustment at a later date"
7:00 AM - 25 Apr 2019
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