LatinNews Daily - 28 February 2020

In brief: Country risk soars in Argentina

* Argentina’s country risk spread rose by 81 basis points to 2,187 in international financial markets on 27 February. This is the highest spread recorded since President Alberto Fernández assumed office in December 2019. The increase in the spread has been attributed to the ongoing doubts over the Fernández government’s ability to successfully renegotiate Argentina’s onerous public debt to avoid a default; and to the general move by investors towards safer assets amid the growing concern of the impact that the spread of the coronavirus (Covid-19) is having on the global economy. Invariably, the increase in the country risk spread makes the task of renegotiating Argentina’s debt more difficult as it means that the country is going to have to offer increasingly higher yields to satisfy investors.

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