Argentine leaders need IR tips from predecessors

Alberto Fernandez, Mauricio Macri, Argentina, president, restructuring, default, LatAm, 575
By Oliver West
14 May 2020

Argentina’s turnaround under former president Mauricio Macri turned out to be a castle built on sand. But as the country heads towards default, the slick execution of its bond market fairytale between 2016 and 2018 could show the Fernández government how to handle investors.

Remember the days of $69bn order books for Argentine sovereign bond deals? Just four years ago, serial defaulter Argentina persuaded bond investors that things were different and that the country’s huge potential would no longer be stuck with the “eternally unfulfilled” epithet.

In reality, the macroeconomic imbalances were just ...

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