Hedge funds cautious on Argentina
Argentina needs to restore its credibility with international investors if it is to realize its economic potential
Colm McDonagh, head of emerging market debt, Insight Investment
The US court ruling that pushed Argentina into a second default in 13 years has implications that stretch beyond disentangling a messy legal situation. In addition to calling into doubt the enforceability of collective action clauses in future debt restructurings, Argentina’s defeat in its legal fight against holdout bondholders could profoundly affect the investment case for Latin America’s third-largest economy.
With the standoff
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