Following the victory of Fernando de la Rua in Argentina's presidential election, the local market has gained momentum, at least for a while. The president elect's most popular campaign slogan, "one dollar equals one peso", which stands for maintaining the economic policy that pegs the local currency to the dollar, is credited as they key factor in his successful campaign and is likely to encourage issuers to the asset-backed market.
"This next six weeks are a window of opportunity for issuers," said Juan Pablo de Mollein, an analyst with Standard & Poor's in Buenos Aires. "Now that the elections and some of the uncertainties that surrounded them are over, issuers who had deals ready for launching are going to try and take advantage of the Indian Summer' before the Y2K issue arises. Otherwise, the deals will have to wait to next year."