August 28, 2019 / 12:43 PM / 22 days ago

Argentine country risk rises to 2,037 basis points, a 14-year high

BUENOS AIRES, Aug 28 (Reuters) - Argentine country risk rose 48 basis points to 2,037 on Wednesday, its highest level in 14 years, according to the JP Morgan Emerging Markets Bond Index Plus.

Worries about Argentina’s ability to meet its dollar-denominated debt obligations has increased since the local peso currency got trounced by political uncertainty after the Aug. 11 primary election. The peso has lost 19.5% of its value against the U.S. dollar since Aug. 12.

Reporting by Jorge Otaola and Hugh Bronstein

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