“Argentina will regain access to global capital markets and solve its liquidity problem,” Loeb said, if the government settled with its holdout creditors.
Earlier this year, Michael Novogratz, president of Fortress Investments, suggested that Argentina was one of their countries seen as “so bad, they’re good,” pointing to a potential buying opportunity in the event of a default.
Meanwhile, credit agencies are less sanguine. For instance, Standard & Poor’s placed Argentina’s credit rating on “selective default” Wednesday after it failed to make a $539 million payment. ARGT will transition to an index from MSCI later this month.
Global X FTSE Argentina 20 ETF
For more information on Argentina, visit our Argentina category.
Max Chen contributed to this article.