Argentine securities tied to economic growth tumbled after Cabinet Chief Jorge Capitanich said the government won’t make a $3.6 billion payment on the notes following a revision of gross domestic product data.
It took just 34 days for investors to start doubting Argentina’s inflation statistics after the nation unveiled a revamped consumer price index intended to quell concerns over the accuracy of its data.
Former Argentine President Nestor Kirchner , who antagonized investors in the aftermath of the country’s $95 billion debt default before handing power to his wife in 2007, died of a heart attack today. He was 60.
Argentine bonds rallied the most in emerging markets after the government unveiled a new inflation index that marks the most concrete sign it’s ready to move away from policies that have alienated investors for a decade.