Return to debt market bolsters Argentina's recovery forecast
Return to debt market bolsters Argentina's recovery forecast
English.news.cn 2015-05-09 13:29:40
BUENOS AIRES, May 8 (Xinhua) -- Argentina's recent return to the foreign currency-denominated debt market "has strengthened its outlook for a slight economic recovery in 2015," according to a report published Friday.
The report by private consulting firm Ecolatina welcomed the move, saying "foreign currency not only ratifies exchange stability, but also increases the possibility of relaxing restrictions on imports," which the government imposed to keep U.S. dollars at home.
In the last week of April, and in just three days, the sale of foreign debt raised 3 billion U.S. dollars, boosting the central bank's (BCRA) international reserves to 33.9 billion dollars, and returning it to the same level as a year and a half ago, the report said.
However, "it is still not possible to rule out negative effects (on the economy) from the court conflicts with the holdouts," the firm said.
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