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LatinNews Daily - 20 February 2019

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In brief: Argentina

* The US-based MSCI Inc stock market index compiler has announced that it will maintain Argentina in its Frontier Emerging Markets index despite the fact that the country was due to be reclassified as an Emerging Market pending a review this year. An MSCI note explained that “While in 2017 GNI [Gross National Income] per capita for Argentina based on the latest data form the World Bank is higher than the threshold for high-income categories, given the latest market developments in Argentina, particularly significant currency devaluation, MSCI will review eligibility of the market on the basis of the 2018 GNI per capita, which will be available later this year”. MSCI’s decision to continue to classify Argentina as a frontier emerging market will prevent certain institutional investors from investing in Argentina.