Argentina’s new finance minister, Alfonso Prat-Gay, is a great salesman. And Argentina likes a dramatic gesture. After 15 years in the wilderness, having set a record for the largest default ever (over US$80bn in 2001), the country returned with a flourish to international capital markets on 18 April by setting a record for the biggest ever bond sale by an emerging market – US$16.5bn, with total orders totalling some US$70bn. And this for a sovereign whose international credit rating is still in ‘junk’ territory. Buenos Aires, for now, is the new international market darling.End of preview - This article contains approximately 734 words.
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