June 18 (Reuters) - A spate of political reforms and

economic cycles has elevated Argentinian dollar-denominated

sovereign bonds and Latin American corporate bonds to rank among

key "areas of interest," the chief investment officer of

emerging markets Americas at UBS Global Wealth

Management said.

"It is a mistake to overlook LatAm," Alejo Czerwonko told

the Reuters Global Markets Forum on Monday.

"Strategically, an allocation to LatAm assets in portfolios

is a must, not least as valuation across equities, some

fixed-income segments, and a number of currencies, are quite

depressed at the moment," Czerwonko said.

Emerging markets in Latin America have been rocked by major

policy shifts this year, leading to spikes in volatility and

sell-offs across various asset classes, which in turn have

created attractive entry points.

Argentinian sovereign bonds have rallied this year on hopes

of reforms by libertarian President Javier Milei and fiscal

tightening, as the country's Senate passed a bill key to his

plans, even renewing a currency swap loan agreement with China.

Czerwonko said he still sees "opportunity" in Argentinian

dollar-denominated sovereign bonds as he believes Argentina will

avoid a debt restructuring due to progress on fiscal

consolidation and reforms, along with rebuilding of foreign

exchange reserves by Milei's government.

"There is widespread recognition that addressing Argentina's

structural economic imbalances necessitates of short-term pain

for long-term gain," he said.

Additionally, Czerwonko sees a wide range of opportunities

in the Latin American corporate bond market as large

corporations navigate different phases of the economic cycle

with liquid balance sheets, comfortable debt maturity profiles,

low leverage and financing risks.

Mexico, in particular, "enjoys a number of secular tail

winds, so we are tracking (the) peso and Mexico rates very

closely," Czerwonko said, citing its proximity to the U.S.,

ample networks of free trade agreements and a young workforce.

"U.S. remittances are flowing in to Mexico at a record $60

billion annually, and this process of economic integration has

more room to run, in my view," he said.

(Join GMF, a chat room hosted on LSEG Messenger, for live

interviews: https://lseg.group/3TN7SHH)