Investors Looking for Exits out of Argentina
Fears of a new economic crisis
More than a decade after Argentina's epic financial collapse of 2001-02, many investors are rushing for the door once again.
From big Chinese and Brazilian companies like miner Vale SA, to small-business owners and savers, the fear of a new crisis has led to canceled investments and suitcases of cash leaving the country.
The mass exodus, which has been limited only by leftist President Cristina Fernandez's capital controls, is threatening to undermine Latin America's No. 3 economy even further by leaving it short of hard currency and new jobs.
The underlying problems range from Fernandez's hostile treatment of the private sector, to severe financial distortions such as a parallel exchange rate, to the general feeling that Argentina is due for one of the periodic spasms that have racked the country every 10 years or so going back to the 1930s.