JPM
😟 A JP Morgan Vice President highlighted skepticism about investing in Argentina, citing the country’s history of defaulting on its debt nine times.
🇦🇷 This comment underscores the significant challenge Argentina faces in rebuilding trust with international investors, even if economic indicators improve.
🏦 The need for Argentina to demonstrate not just the willingness but the capacity to honor commitments is crucial for attracting foreign capital and lowering its risk premium.
@ClaveBursatilTV:
“And I’m going to link this with something the Vice President of JP Morgan said yesterday, and it goes in line with something I’ve been maintaining in my recent columns that worries me. The Vice President of JP Morgan said, ‘Well, they tell us to invest in Argentina, etc., but you have to trust a country that defaulted on its debt nine times.’ When I heard that, I said, ‘Damn, well, he’s right.’ What is the problem Argentina has from the international investor’s point of view? Everyone believes that Argentina, by lowering the country risk to the 450 zone, can place bonds abroad. I believe Argentina has one more subject to pass. Besides that, I think Argentina has a greater challenge, which is to demonstrate not only willingness to pay but also that it assumes its commitments. It faces a unfortunately very, very big challenge.”
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