Argentine stocks have suffered due to the business unfriendly government, and as a result, some dividend paying stock is cheap. One such opportunity exists with property management stock Alto Palermo (APSA, quote) based in Buenos Aires.
Response from Argentine financial markets has been muted at best after President Cristina Fernandez named Hernan Lorenzino as the new economy minister for her second term. He was finance secretary during Fernandez’s first term and helped manage the country’s $12.9 billion debt restructuring last year.
For nearly a decade, Argentina has been isolated from international capital markets after declaring the largest sovereign debt default in history. But now the country is re-emerging.