Less than a year ago, Argentina was on the brink of a balance of payments crisis after 12 years of populist rule. But dollars have flooded into the economy since the business-friendly government of Mauricio Macri took over last December, with central bank reserves last week surging above $40bn.
Although the record set by Argentinas bumper $16.5bn return to the capital markets this year has already been broken by Saudi Arabia, the government is continuing to startle investors with an aggressive debt strategy, in recent weeks issuing $8.5bn of long-term, fixed-rate peso-denominated bonds.
In a remarkable show of confidence in the governments success in stabilising an economy that it inherited with double-digit inflation and liquid …
Read the full article at: https://www.ft.com/content/2454bf82-9a7c-11e6-b8c6-568a43813464