Argentina's "country risk" measure dropped on Friday, with investor demand for premium to hold Argentine foreign dollar bonds hitting its tightest since September 2020. Investors have bet that the administration of right-wing libertarian President Javier Milei, in power since December, will succeed in transforming the Argentine economy. "A fiscal surplus was recorded in January and February for the first time in over a decade, international reserves are being rebuilt, inflation is falling more quickly than anticipated," Julie Kozack, spokesperson for the International Monetary Fund, said on Thursday, noting that the progress has been "impressive."
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