Argentina Century Bond Yield Jumps After IMF Aid RequestedBy
Investors are growing increasingly leery of Argentine finances. The yield on the bond due in 2117 rose to a record 8.4 percent on Tuesday after the government asked the International Monetary Fund for a credit line to help stem a five-month rout in the peso that is sparking a surge in interest rates and threatening to derail the country’s economic recovery. The IMF offers the flexible credit as a precautionary tool for countries that want to reassure markets they are following economic policies approved by the Washington-based fund.
— With assistance by Sophie Caronello