Argentina Opposition Candidate Fernandez Pledges No Default

Argentine opposition candidate Alberto Fernandez said he won’t lead the country into default if he wins the presidential election in October, seeking to reassure investors who fear a new government might renege on its borrowings, Bloomberg News reported. “What we can guarantee is that we aren’t going to fall into a new default. I received an Argentina in default. I don’t want Argentina to fall back into that," Fernandez, 60, said in reference to his stint in Nestor Kirchner’s government at the beginning of the century when the country was emerging from a devastating debt default. The mere possibility of populist Kirchner returning to power roiled markets in April. Business-friendly President Mauricio Macri is the favorite of investors, though since taking office in late 2015 he has presided over two recessions, soaring inflation and a collapse in the currency that forced him to seek an IMF bailout last year. Read more

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