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Montevideo, October 17th 2017 - 22:11 UTC

S&P raised Argentina's credit rating to “B”, on the “verge of exiting recession”

Wednesday, April 5th 2017 - 06:32 UTC
Full article 28 comments
The rating bump gives a boost to conservative President Mauricio Macri, who has launched sweeping - often unpopular - economic reforms aimed at reviving growth. The rating bump gives a boost to conservative President Mauricio Macri, who has launched sweeping - often unpopular - economic reforms aimed at reviving growth.

Standard & Poor's raised Argentina's credit rating one notch Tuesday, from B- to B, saying Latin America's third-largest economy was on the verge of exiting recession.The rating bump gives a boost to conservative President Mauricio Macri, who has launched sweeping - often unpopular - economic reforms aimed at reviving growth.

 “Argentina is making progress in resolving several macroeconomic imbalances in the country while gradually rebuilding the country's credibility,” the rating agency said in a statement.

It predicted Argentina would return to economic growth of three percent this year, with inflation - a tricky problem for Mr. Macri - falling by half, to 20%, and to 15% in 2018.

Many economic analysts see signs of “green shoots” in Argentina, after it posted growth of 0.5% in the last quarter of 2016.

S&P predicted “broad continuity” over the next two years, but also warned of “uncertainties about the pace of implementation of the government's corrective economic plan given ongoing political challenges.”

Macri, who took office in December 2015, faces a key test in midterm elections this October. Some analysts say the upcoming vote has forced him to back off his austerity reforms.

Categories: Economy, Argentina.

Top Comments

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  • The Voice

    Bad news for the Shitstirrer and the Hypocrite! Embarrassing Villa 31 to be cleaned up...Peronist crooks assetts seized, prosecution pending, choripan handouts discontinued, horsemeat prices tumbling...WTF?

    Apr 05th, 2017 - 07:51 am +2
  • golfcronie

    All good then

    Apr 05th, 2017 - 12:36 pm +1
  • DemonTree

    I'd need to know what area you work in to know how relevant it is to the whole economy, and I don't suppose you'll tell me. But apparently you agree with Macri that things are starting to improve, and I think you are the only Argentine poster here who does. Isn't part of the low consumer spending due to people going to Chile to shop? Or were you talking about the whole of Argentina rather than just Mendoza?

    Apr 05th, 2017 - 09:59 pm +1
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