Argentina's international dollar and euro-denominated bonds fell to record ...
LONDON/BUENOS AIRES - Argentina’s international dollar and euro-denominated bonds fell to record lows on Monday while its financial stocks tumbled and risk premiums shot up after President Mauricio Macri reimposed capital controls on Sunday as the country’s debt crisis spirals.
The central bank has been authorized to restrict purchases of dollars as it burns through its reserves to prop up the peso. Investors fretted that once the controls are in place, they will be difficult to end, possibly leaving Argentina with an economy once again distorted by government intervention.
“The problem with restrictive, emergency measures is that they are easier to apply than to retract,” said Buenos Aires-based financial analyst Christian Buteler in a tweet.
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