Argentine currency crisis fails to hurt debt markets

Despite Argentina's dramatic currency crisis, it has been the top-performing country within the emerging markets sovereign debt class. Argentine sovereign debt has risen 10% against the US dollar this year, according to fund managers, and its impact on the rest of the region has been much lower than expected. Colm McDonagh, fund manager at Aberdeen Asset Management, says Argentina has not been the disaster many predicted. He says: 'I think the crisis in Argentina has had much less contagion than people feared. Although the Argentines have enormous political and economic proble...