The recent slump in the ARS currency. This, however, shouldn't affect CEPU's cash flows, on the contrary, it should reduce the required expansion Capex in USD terms.
A cabinet change that triggered energy-intervention panic. In response to those rumors, the new energy Minister reaffirms and further invigorates the ongoing trend of energy sector liberalization.
Local interest rates in ARS are in record highs of a monthly 3% and government USD-bond yields are in the 8-9% per year, which diverts equity investors towards fixed income and limits the possibility of buying stocks on margin in the Buenos Aires stock exchange.
Argentina has been recently reclassified as an Emerging market by MSCI, and apparently, that event has triggered the sale of Frontier market funds, but not yet purchases of EM funds.