Argentine issuers retreat amid currency scare

Argentine issuers retreat amid currency scare

Bonds Capital Markets Economy & Policy Argentina

Telecom Argentina (TA) and Petroquímica Comodoro Rivadavia (PCR) opted to not issue bonds on Thursday as the depreciating Argentine peso plagued the marketplace. Argentina's central bank hiked interest rates on Thursday for the second time in a week to 33.25% from 30.25%, a band-aid type move designed to shore up the country's fledgling peso. Last Friday, the central bank raised the benchmark lending rate by the same amount from 27.25%. Still, the Argentine peso has dropped more than 5%, despite

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