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MSCI to dump Argentina out of benchmark EM stock index

NEW YORK, June 24 (Reuters) - Index provider MSCI said on Thursday it will reclassify the MSCI Argentina Index from Emerging Markets to Standalone Markets status during its November index review.

“The prolonged severity of capital controls with no resolution is not in line with the Market Accessibility criteria of the MSCI Emerging Markets Index,” said Craig Feldman, global head of index management research at MSCI.

“This has led to the reclassification of the MSCI Argentina Index from Emerging Markets to Standalone Markets status.”

MSCI also said it will consult on the possible reclassification of Pakistan from emerging to frontier market and continues to monitor the accessibility to the Nigerian stock market. (Reporting by Rodrigo Campos Editing by Chris Reese)

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