Economy & Business - June 2011 (ISSN 1741-7430)

Argentine bonds have weakened while the stockmarket has outperformed its Brazilian equivalent, suggesting the investors are calculating that a second government headed by Cristina Fernández will try to follow much the same economic policies as it does now. Fernández picked Amado Boudou, the economy minister, as her vice presidential candidate on 24 June.
As economy minister Boudou  presided over a second restructuring of the country's debt in 2010. The restructuring, despite heavy criticism from investors, helped the country's dollar bonds soar 35.8%, which made the securities the best performers among major emerging markets in JPMorgan Chase & Co.'s EMBI+ Index. On the downside, in 2010 Boudou failed to restructure about US$8bn in defaulted debt with the Paris Club group of creditor nations.

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