LatAm Bonds
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Argentina’s president Cristina Fernandez de Kirchner announced on Tuesday a government proposal to renationalise the country’s private pension funds. The move should plug next year’s budget gap and ward off default as markets stay shut for the sovereign — the government would receive pension contributions directly as fiscal income, and could roll over payments on its bonds held by the funds.
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Latin America continued to be buffeted by the crisis during the week, as bond spreads widened still further and regional governments took more measures to calm markets.