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S&P raises Argentina's credit rating, but warns about the 40% inflation

Monday, May 9th 2016 - 09:17 UTC
Full article 14 comments

Argentina’s credit rating was raised to B- from selective default by S&P Global Ratings, which cited the country’s payment last Thursday of $2.7 billion of past-due interest on bonds in default since July 2014. Read full article

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  • ChrisR

    “The ranking is five levels below investment grade and in line with that of Greece, Ukraine and Mozambique.”

    And that's an improvement!

    Now do we believe what S&P have said? Not a good track record in the past so hopefully they will be wrong as usual and things will be better than their predictions.

    I do hope so.

    May 09th, 2016 - 10:43 am - Link - Report abuse 0
  • Merry Englander

    Although still a very poor rating it is indication of the step in the right direct that the country has taken. I expect there will be future upgrades to come. Unlike the other countries with similar S&P status, Argentina has great export potential that has been shackled by recent policy.

    May 09th, 2016 - 12:38 pm - Link - Report abuse 0
  • Marti Llazo

    Great potential shackled by persistent innate economic incompetence and the continuing rule of Peronist populism through its control of the legislature. Wage structures and labour laws ensure noncompetitive workforce and neo-Luddite practices that discourage foreign investment. GM is producing cars in India for the Argentine market.... what does that tell you about competitiveness in semi-skilled labour ? Crumbling infrastructure. Rampant corruption. Importing energy from Chile - the classic unambiguous measure of long-term incompetence. Economy in recession, inflation off the graph and worsening, the expressed desire of congress members that the present government fail. Persistent junk still recognised as junk. The countdown until the next default is running.

    May 09th, 2016 - 02:02 pm - Link - Report abuse 0
  • Troy Tempest

    @2 “Merry Englander”

    I too am wishing the best for Argentina under Macri's government.

    Only if they renounce their claims to the Falklands, of course.

    You don't sound “Merry”. Nor do you sound like what the Germans call an “Englander”.

    You sound more Argentine to me.

    May 09th, 2016 - 02:22 pm - Link - Report abuse 0
  • Merry Englander

    @3
    If Macri plays it right there will be plenty of foreign investment flowing that way. Few scenarios present higher returns than a resource rich nation that is coming in from the cold.

    The count down to the earth being swallowed by the sun is running. So what?

    @4
    I sound Argentine?
    In what way?

    May 09th, 2016 - 03:00 pm - Link - Report abuse 0
  • Evertano

    any Argentine government to renounce sovereignty over Malvinas Considered to be high treason to the homeland . Forget that. Maybe they should reconsider the position are the islanders since Britain before or after loosen their hands . Malvinas is being very expensive and without any redito but a strategic point and meaningless

    May 09th, 2016 - 03:43 pm - Link - Report abuse 0
  • Merry Englander

    @6
    It would also be considered treason by many here for the UK government to step back from defending the islands.

    The cost is minimal. It is 1% of the defence budget, which in turn is 2% of GDP.
    The real costs are the opportunities lost due to a dysfunctional relationship between our nations. I am please the new administration in Buenos Aires is prepared to put the FI issue to one side and restore more normal relations with us.

    May 09th, 2016 - 03:53 pm - Link - Report abuse 0
  • Marti Llazo

    @ 6 “any Argentine government to renounce sovereignty over Malvinas Considered to be high treason to the homeland .”

    One of the many reasons Argenzuela cannot be considered among the mature, successful, responsible, civilised nations. The perpetual pariah state.

    May 09th, 2016 - 04:14 pm - Link - Report abuse 0
  • McGregor

    @7 Bang On

    If Argentina is waiting for UK to present them with the Falklands they will be waiting for a very very very long time...........

    When UK says the Falklands belong to the people of those islands it absolutely means it. Only if those people vote to join Argentina would it be acceptable and I don't feel this very likely considering 1982 and Argentina's current policy of strangulation of the islands economy !

    An island isolated off of a hostile continent resonates deeply in the British Physique and Churchills two finger salute reversed will always be our response. Anyone who doubts our resolve needs to ask themselves why we will shortly have four aircraft carriers available for the South Atlantic ?

    The UK public would hold to account any Government that was stupid enough to have anything to do with Argentina on this particular subject, and trust me, the politicians know it !

    May 09th, 2016 - 05:05 pm - Link - Report abuse 0
  • pgerman

    @9

    So? Where is the solution if any Argentine government to renounce sovereignty over Malvinas would be considered to be high treason to the homeland and it would, also, be considered treason by many in the UK for its government to step back from defending the islands?

    (Please, don't mention any argentine retreat as part of the solution since you have already metioned that this is not possible)

    Four aircraft carrires available? Which ones?

    May 09th, 2016 - 05:55 pm - Link - Report abuse 0
  • Troy Tempest

    @10 pgerman

    I would suggest you stop the forced indoctrination of your children

    May 09th, 2016 - 06:22 pm - Link - Report abuse 0
  • McGregor

    @ 10

    The answer is so supremely obvious I hesitate to point it out......

    Are you familiar with the old adage “If you love something..........?”

    The 2nd part:-

    HMS Queen Elizabeth
    HMS Prince of Wales
    HMS East Falkland
    HMS West Falkland

    The last two are also unsinkable.

    May 09th, 2016 - 07:01 pm - Link - Report abuse 0
  • Marti Llazo

    @9 “An island isolated off of a hostile continent resonates deeply in the British Physique ...”

    And psyche as well.

    May 09th, 2016 - 08:39 pm - Link - Report abuse 0
  • McGregor

    @13

    Thanks Marti - definately works better your way (bloody auto suggest).

    May 09th, 2016 - 09:05 pm - Link - Report abuse 0

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