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Moderator Guillermo de la Dehesa, Vice-Chairman, Goldman Sachs Europe, Spain, explained that the session will focus on the interplay of multiple dynamics: governments, markets and the role of rating agencies in rating both markets and countries. ... The financial markets have to get elected every single day." A way markets "get elected" is through rating agencies. The perception is that while rating agencies are under scrutiny for their questionable ratings of markets, they do an even worse job of rating countries.
While rating markets is certainly the focus of much business press at present, of greater interest for Latin America is the rating of countries as a factor in decisions made by investors in capital markets, Dehesa pointed out. ...
Daniel Schydlowski, Chairman, Corporación Financiera de Desarrollo - COFIDE, Peru, addressed issues with rating agencies at several levels and cited the need for multiple perspectives. ... Part of the problem is that we are looking for a clear answer from a rating agency, when what they should give is a fuzzy and multi-faceted answer," as he believes this forces a greater analysis of what are in reality very complex issues.
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