By Oliver West
17 Dec 2020
Despite funding stresses in certain Latin American countries, bond markets will continue to help the region with its financing needs. For now, this eases the pressure for reform and fiscal consolidation, but issuers must eventually face up to political and social turbulence. Oliver West reports.
When Peru sold $4bn of bonds in November, including a century tranche, despite having had three presidents in two weeks, treasury director José Andrés Olivares found symbolic comfort in a $15bn order book. The amount surpassed, noted Olivares, the unprecedented $12bn or so that that government needed to raise in 2021.