Latin crisis worsens

Fernando Luque 2 August, 2002 | 5:52PM
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The situation in Latin America is deteriorating rapidly. The Argentine crisis is far from over, the Brazilian real continues to plummet and Uruguay is also suffering.

Latin American markets suffered huge losses during June and July. The MSCI Latin America Index fell 18.3% in June and 15% in July (in euro terms). These losses significantly exceeded those of the MSCI Emerging Markets Free Index which were 12.6% in June and 7.2% in July.

The economic and political situation in Argentina is problematic. The country is still waiting for the International Monetary Fund (IMF) decision about its debt financing package. Despite such difficulties the Argentine market has stabilised with the MSCI Argentina index even managing to rise some 2% in June and 7% in July.

In Brazi

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About Author

Fernando Luque

Fernando Luque  is Senior Financial Editor at Morningstar Spain 

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