Today’s podcast:
Argentina Downgraded to Kazakhstan on Foreign Fund Restrictions
MSCI Barra, whose stock indexes are tracked by investors with $3 trillion in funds, downgraded the country to a “frontier” economy from an “emerging market” in February, citing its restrictions on foreign capital. That puts South America’s second-biggest economy, after Brazil, in a category with Sri Lanka and Kazakhstan.
Borat would have probably done a better job of managing the Argentinian economy than the Kirchners have.
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Are the Kazahks insulted by their new neighbors?