MercoPress. South Atlantic News Agency
S&P raised Argentina's credit rating to “B”, on the “verge of exiting recession”
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. Read full article
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Disclaimer & comment rulesBad 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 - Link - Report abuse +2All good then
Apr 05th, 2017 - 12:36 pm - Link - Report abuse +1Anybody see the resolutions approved today by some absurd margin like 500 to 100 in the European Union today, regarding Brexit Negotiations, Gibraltar, and Scotland/Northern Ireland?
Apr 05th, 2017 - 08:05 pm - Link - Report abuse 0Unbelievably tough terms on the UK: no trade deal until you are out, you must pay ALL outstanding EU bills PLUS all divorce costs run on the UK, absolutely ZERO tolerance for à la carte deals, the EU banking and medicine ministries WILL move from London, any deals will be enforced by the EUROPEAN COURT, 5th air rights will be GONE regardless of a deal or not, the UK must follow EU tax and evasion laws for any treaty to be signed, Gibraltar will not be negotiable and will depart the EU, and Northern Ireland will have a hard border on the EU side.
HAHAHAHAHAHAHA. So thta is the mighty British negotiating hand at work that every Brit here was crowing about for all this time?
Wow, then I shudder to think what would be offered to you if your position was weak :)
What are you on about, Trollboy? Negotiations haven't even started yet, these are supposed to be the EU Parliament's red lines.
Apr 05th, 2017 - 08:52 pm - Link - Report abuse 0You've probably mangled half of those terms, but cite for NI hard border? I would hope that even the EU parliament would have more sense than to start poking at NI. The less change there the better.
Also “that every Brit here was crowing about”? You did notice that 48% voted for remain, right? And plenty of us here have been saying the exact opposite of that? Even though you'd rather believe we're all the same, I'm going to keep pointing out that you're wrong.
Besides, this story is supposed to be about Argentina. Don't you have an opinion on your own country? S&P obviously believe in what Macri is doing, do you think Argentina is coming out of recession?
I have a lot more work of late, that is why I don't post here as much. But that has been the case in Mendoza for months now. So yes, the economy is up on the medium term projects, but long term projects and retail spending still flattish. Investment is pouring on the 2-3 year horizon stuff, long-term stuff only upticks for now, consumer spending will lag since right now you have salaries stagnant to stop inflation but inflation has not come down enough yet.
Apr 05th, 2017 - 08:58 pm - Link - Report abuse 0I'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 - Link - Report abuse +1Mendoza economy was doing ok under CFK too. I am on record saying that. Unemployment is fairly low and the economy is not as volatile up and down. Mendoza historically is like that. Which is why you don't see explosive growth like Rosario in boom times, but also historically very few riots or uprisings have occurred from Mendoza.
Apr 05th, 2017 - 10:03 pm - Link - Report abuse 0Up until 2015 I said the Mendoza economy was doing great with construction of many things. That was CFK. Then I said nothing the last two years. You draw your conclusions. Now I do see movement again.
The ape writes: “Mendoza economy was doing ok under CFK too”
Apr 05th, 2017 - 10:19 pm - Link - Report abuse 0Doing OK?
“Las cuentas del Estado Nacional cerraron el 2015 con un déficit de $ 291.660 millones”.
That was a deficit of about about U$S 29 billion, in Mendoza ANSES was 5 billion pesos short, medical staff wages in hospitals in Mendoza was 4 to 5 months in arrear, ...
Mendoza's governor Alfredo Cornejo: “Estimamos un déficit de 4.500 a 4.800 millones para 2016” and “Pérez deja a la Provincia con deudas múltiples y en crisis” - the previous (kirchnerista) local government left a budget with a deficit for the coming year of 450 million U$S.
Late 2015 we couldn't buy U$S in Mendoza “El dólar en Mendoza: las casas de cambio no están vendiendo divisas”.
The concerns of passing tourists are really not my concern.
Apr 05th, 2017 - 10:31 pm - Link - Report abuse 0The economy was doing well, unlike the economy of wherever you live which is a disaster.
It's obvious Chopper doesn't live there. Probably the little matter of a number of unsolved murders of women involving car firebombings, and a fear of being shot for his shoes, boiled shoe leather being a staple for starving humans.
Apr 06th, 2017 - 12:10 am - Link - Report abuse 0Mendoza was probably doing better than other parts of Argentina but the last time I was there - and I have been a number of times - the wineries were suffering. They couldn't get parts for machinery because of CFK's crazy policies. Actually most people were reverting from smart phones to old style basic mobiles because parts could not be imported. Crime increased over the times I visited to the point where even my Argentine friends were worried there.
Apr 06th, 2017 - 01:30 am - Link - Report abuse 0All that said, I always enjoyed my visits. Some of the illegal restaurants are great.
Glad to see that Argentina under Macri is starting to do better.
Apr 06th, 2017 - 02:31 am - Link - Report abuse +1Seems they made a good choice at the last election.
I've got much different standards than some for what is considered doing well. But at least Argentina seems to have turned a corner.
It's false and a great disservice to Argentines to join the propaganda chorus and say the country is coming out of recession. Tomorrow April 6 the Macri administration will face its first general strike. Consumption is down. Wide-open imports are killing SMEs. Recession over? I would laugh if it weren't tragic.
Apr 06th, 2017 - 03:51 am - Link - Report abuse 0(From 2013) “The US Department of Justice on Monday filed a civil suit in Los Angeles charging Standard & Poor’s Ratings Services...with defrauding investors and the public by inflating the credit ratings it gave to subprime mortgage-backed securities in the run-up to the 2008 financial crisis.”
http://www.globalresearch.ca/sp-charged-with-fraud-in-mortgage-ratings/5322037
Yada yada. S&P, Moody's and the like are all private, for-profit companies and far from being objective and impartial.
In the case of Argentina, many banks and financial institutions are very happy with the way Macri is plunging the country into debt (that means a lot of money for banks abroad) and therefore want to support that trend.
Reduced to using an article from 4 years ago, eh, Kamerad/Komrade Rique? As I have said several times before, you are as believable as Fox news with ALL that that implies. That said, I am so glad you are unhappy. It means that things are getting better!
Apr 06th, 2017 - 05:49 am - Link - Report abuse +1One sign that things are getting better is that a Kirchnerite politician (I can't remember her name) recently tried to take credit for economic improvements and the Metrobus until she was called out on the fact that they were both due to Macri.
Apr 06th, 2017 - 06:22 pm - Link - Report abuse 0I think the recent spontaneous, large, peaceful march of people over a wide age range for democracy that occurred on Saturday so people who had jobs could attend and didn't involve bussing people in (people were showing their Sube cards to indicate they travelled independently) shows that there is a large proportion of the population that support Macri and understand that he has a big hole to climb out of. This is a sharp contrast to the anti-government violence, threats and intimidation.
Zaphod
Apr 07th, 2017 - 05:40 am - Link - Report abuse -1Yes, Macri too was very happy with the recent “spontaneous, large, peaceful march of people” that marched in his honour.
“One sign that things are getting better...” was the general strike earlier today--the whole country looked like a ghost country.
So...you live where? In the Moon? A suggestion: try to read something that takes you out of your comfort zone. You are seriously misinformed. In fact, you are living in Gato Macrilandia Neverland.
Troll boy
Apr 07th, 2017 - 10:36 am - Link - Report abuse 0Your comments at the third post. I had to go back to the heading as I thought that I had jumped topics. What have your remarks got to do with Argentina's credit rating?
I could hear you positively salivating at the thought of the UK's demise. It won't happen.
As negotiations start for real....after French and German elections, there will be a “break” in the supposed solidarity as some countries will realise how THEIR economies will be affected.
Spain's agricultural business will take a severe knock as most of their exports go to the UK.
Their fishing industries will collapse when they will be kept out of UK waters.
German car makers will be unhappy as a large proportion of their sales are to the UK.
Exports of goods and services from the UK to other EU countries were worth £230 billion in 2015, while exports from the rest of the EU to the UK were worth about £290 billion. If we use EU figures than the £290 billion becomes £359 billion
The EU sells either £60 billion or £129 billion more to the UK than we do to them.
Germany and Spain being the largest beneficiaries.
Our net contributions for 2016 was £8.6bn. So, if trade between the EU stops or nosedives then the EU countries will have to make up the shortfall of £137bn.
I think pragmatism will rule during negotiations. Neither side will get what they want.
Whatever happens, it won't be to Argentina's advantage
Reekie,
Apr 07th, 2017 - 05:37 pm - Link - Report abuse 0““One sign that things are getting better...” was the general strike earlier today--the whole country looked like a ghost country.”
That isn't true. There is a MP story here that the strike had little effect outside BA. Also, 80% of business were able to remain open in BA with people working from home, cycling to work or giving each other lifts with many random acts of kindness reported. So, not the “whole country”.
“So...you live where? In the Moon?”
Not the Moon.
“In fact, you are living in Gato Macrilandia Neverland.”
Not there either.
I believe from other posts on here that you are living in Canada and haven't been to Argentina for 40 years. If true, I definitely have more first-hand recent experience of Argentina than you do. You know what they say about people in glass houses. ;-)
@ EM
Apr 08th, 2017 - 12:02 pm - Link - Report abuse 0Have you tried putting your fingers in your ears and saying “la,la, la, la can't hear any good news about Argentina”. You really are the worst kind of ex-pat. You don't live in Argentina or have any intention of returning. You live a safe and comfortable life in Canada but you want the people of Argentina to live in perpetual poverty under the corrupt CFK. Just because she says things you like to hear doesn't make them true. If you are not prepared to go and see the reality then you have to trust the people that do make that effort.
Elaine
Apr 09th, 2017 - 06:21 am - Link - Report abuse 0”You want the people of Argentina to live in perpetual poverty under the (allegedly) corrupt CFK.“
You have no idea what you are talking about.
Argentina's president is Mauricio Macri. He has been in office for 15 months. The argument of the ”pesada herencia“ that attributed every problem to the previous administration was more or less working during Macri's first year but is now believed by less and less citizens.
During campaign Macri promised to ”leave in place what has been done well and to improve what needed to be” but instead has worsened almost every aspect of citizens' lives.
No all in Argentina are faring worse though.
Banks, financial institutions, some public works entrepreneurs with links to the Macri family, as well as friends and associates are doing very well.
Since coming to power, Macri has lifted most and reduced other export taxes for agro exports and de-facto devaluated the peso by 40 per cent. This was a large gift for the agro industry tycoons and to the large landowners. He also cancelled export taxes to mining products, which was another large gift to mostly multinational corporations.
The devaluation of the peso hit hard those who don't belong to financial and speculative sectors. Domestic consumption, as a result, went dow and keeps going down as we speak. The domestic manufacturing sector was hit by a drastic sales reduction and by the opening of imports. Many traditional enterprises that had survived previous administrations are now closing doors, with some resorting to layoff employees, reducing production in an attempt to survive.
Oh, but I forgot. You are not interested in any of that. Your friends in Argentina belong to the third of Argentines who will back Macri no matter what, either because they are getting tangible benefits or hate CFK with passion.
This is the reality nowadays, and there is nothing you or I can do to change that. We can only see that reality or negate it.
@ EM
Apr 09th, 2017 - 01:44 pm - Link - Report abuse +1Why not rewrite your post exchanging the names of Macri and CFK?
I don't support Macri per se, though you seem not to be able to grasp that fact. I want to see CFK brought to justice because I witnessed her corruption. Now if Macri is prosecuted in the future I would want to see him brought to justice. Do you begin to understand now?
Since you seem incapable of moving from your well-worn script, let me explain again. I have friends across the spectrum of political ideals. I don't belong to one team.
“Your friends in Argentina belong to the third of Argentines who will back Macri no matter what, either because they are getting tangible benefits or hate CFK with passion.”
Apr 09th, 2017 - 05:59 pm - Link - Report abuse +1And you apparently back CFK no matter what, either because you are getting tangible benefits, or hate Macri with a passion. (There, fixed that for ya...)
http://i1290.photobucket.com/albums/b521/imoyaro/KameradR_zps5h5sc4uu.jpg
@ imoyaro
Apr 09th, 2017 - 08:13 pm - Link - Report abuse 0Exactly. He projects his obsessive character onto others. I don't have a candidate I am welded to and blindly defend against overwhelming evidence. I look objectively. I can't reveal all my sources but I am in no doubt about CFK's criminal activity and that is my opinion. I also know it is for the courts to bring her to justice. As for Macri, it is early days.
@EB
Apr 10th, 2017 - 12:23 am - Link - Report abuse 0Yeah, he just doesn't get it. I keep telling him I consider Macri to be a Argentine politician with all that that implies. I guess he doesn't know much about Argentine politics. It's entirely within the realm of possibility that Macri will get his day in court. So why does Kamerad/Komrade Rique keep trying to protect the Narcokleptocracy?
@EB
Apr 10th, 2017 - 06:44 am - Link - Report abuse -2ElaineB, if you were so intent in justice to be made you would not be getting ahead of a judge and convicting CFK before trial. What's more, if you were even half-well informed you would know that judge Bonadio's trial is an affront to every notion of justice.
If you had attempted to get your “other sources” to work, you would know that after executing 40 search warrants on Los Sauces/Hotesur matter, Bonadio was unable to find empty properties--every single one was occupied and all the tenants were paying market-value rent. Bonadio acknowledged that fact on his 392-page resolution.
Rent and any other payments were all done by cheque and the cheques were deposited in banks, and no cash transactions were found, therefore no money laundering operation was found.
The joyful judge even pointed to Florencia Kirchner as one of the “gang leaders,” disregarding that Cristina's daughter was 12 in 2003 and 16 when the Los Sauces real estate corporation was founded. She does not know most of the other accused “gang members” and had no authority on matters under investigation.
Claims that the Kirchners accepted bribes have bumped on one single fact: No a single offshore account was found; no corporation, no money movements, no hidden cash or unregistered goods was detected.
And so, after filling 392 pages but finding no wrongdoing proof whatsoever, Bonadio declares himself incompetent and transfers the file--without any relevant findings of criminal activity--to another judge, Julian Ercolini.
You would be interested in knowing that Bonadio had been ejected from an early investigation, Hotesur, which includes all the rents managed by Los Sauces, after committing serious procedure irregularities. He then fabricated an alternate investigation named Los Sauces, using a fake denunciation of lawmaker Margarita Stolbizer as the motive.
Those facts, once verified, would persuade any reasonable person to be prudent. Not less, no more.
I notice Kamerad/Komrade Rique provides absolutely no sources for his assertions, as that might prove to be a K propaganda organ. Of course the properties are all occupied now, but it seems they were not before, with large withdrawals of cash between 2009 to 2013, and that the Ks did not report anything until 2015. Just another barrage of half truths eh, Kamerad/Komrade? As for the offshore banking, The Seychelles does not give out information, nor is it required except by the DTC, a questionable entity in its own right. As for Florencia, she was a repository. The fact that she was used by the family does not speak well of the Ks, at the very least. So another wall of verbiage without references, standard operating procedure for Kamerad/Komrade Rique.
Apr 10th, 2017 - 07:27 am - Link - Report abuse +1http://www.perfil.com/politica/entre-hotesur-y-los-sauces-los-kirchner-se-llevaron-64-m-1101-0018.phtml
@imoyaro
Apr 10th, 2017 - 07:39 pm - Link - Report abuse -1“Of course the properties are all occupied now, but IT SEEMS they were not before...”
See? This is how Bonadio's fishing expedition was put together. “It seems.”
“As for Florencia, she was a repository. The fact that she was used by the family does not speak well of the Ks, at the very least.”
I agree. However, there is a distance between “does not speak well of the Ks” and for a judge to accuse Florencia of being one of the ringleaders.
So all is fine, Zaphod. You keep your firm belief in the Kirchners' guilt. I am not offended in the least.
I, having had access to some first-hand material, trust the whole prosecution of CFK is smoke and mirrors and politically motivated. And we'll see how it goes.
Reekie,
Apr 11th, 2017 - 05:11 pm - Link - Report abuse 0“@imoyaro ... So all is fine, Zaphod. You keep your firm belief in the Kirchners' guilt. I am not offended in the least.”
You are confused. I am not imoyaro.
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