MercoPress. South Atlantic News Agency
S&P retained its 'B' rating for Argentine debt
Standard & Poor's (S&P) confirmed it would maintain its 'B' rating for Argentine debt, highlighting that the president Mauricio Macri administration was continuing to meet the goals laid out by the International Monetary Fund (IMF) as part of the huge credit line agreed last year. Read full article
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Disclaimer & comment rules““Reflecting strong policy commitment, Argentina continues to comply with challenging targets...despite a second year of economic contraction...”
Aug 03rd, 2019 - 06:07 pm - Link - Report abuse -2Strong policy commitment is good in the eyes of the IMF. However, “Last year the Argentine economy contracted 2.5% and this year the IMF expects a GDP reduction of 1.3%.”
Strong commitment with the country and its economical health would be much better.
So what was Argentina's credit rating under CFK?
Aug 05th, 2019 - 06:19 pm - Link - Report abuse +1Oh look, it was SD (In default with little prospect for recovery)...and yet you think that B (Highly speculative-Stable) is somehow worse?
https://countryeconomy.com/ratings/argentina
As you can see the scale goes from D (default) < SD < CC < CCC- < CCC < CCC+ < B- < B so the credit rating has improved through several levels above default. Remember that this is an indication of a confidence level that Argentina can pay its debts which is related to economic health and management, so it should be good news. You seem upset that Argentina is moving away from a default situation.
Oh come on, Zaphod. You know as well as I know that the Argentine economy is in tatters, and that is why the ticket Fernandez - Fernandez has serious chances to win in the next presidential election.
Aug 06th, 2019 - 03:02 am - Link - Report abuse -2“You seem upset that Argentina is moving away from a default situation.”
Who are you trying to kid, Zaphod?
Argentina is in recession, the population's purchase power has melted away, unemployment is rising, small and medium-size enterprises are closing doors every day, the foreign debt has reached 85 per cent of the GDP and you believe the country is improving?
You must know well that, no matter what government is elected, the IMF repayment schedule cannot be fulfilled as it is.
As a result, I don't believe for a second you are sitting in a cloud of laughing gas, so I will assume you are trying to convince ill-informed people that all is well with Macri.
I don't know what motivates you to do so.
But time will tell. Soon.
“... I will assume you are trying to convince ill-informed people that all is well with Macri.”
Aug 06th, 2019 - 04:56 pm - Link - Report abuse +1Not at all! I agree that the economy is a mess but it would have turned into Venezuela if CFK had remained in power. I don't know what motivates you to keep claiming that Macri has been a complete failure when the evidence shows that some economic indicators have improved. The balance of trade is looking very good which means more foreign income to reduce the external debt (which is what the numbers appear to indicate) and clearly, with the improving credit rating, the experts appear to agree. You are making claims about the foreign debt that are not supported by the facts.
“But time will tell. Soon.”
Indeed. Your track record of predicting election outcomes in Argentina isn't great, so any predictions this time?
“...the economy is a mess but it would have turned into Venezuela if CFK had remained in power.”
Aug 07th, 2019 - 03:55 am - Link - Report abuse -2Zaphod: During the last four years, Argentina has been getting closer and closer to Venezuela status.
“...some economic indicators have improved.”
Zaphod: unfortunately, you parrot the government's propaganda and appear just as president Macri, lying his teeth off to Argentines without a hint of shame.
When inflation slows down in a given month, the government and friendly newspapers are jumping all over the place claiming “things are improving.” Heck no. Things have just slowed down becoming worse.
“The balance of trade looks very good.”
You should know that one of the effects of the current recession is a steep reduction of imports -- which is the only reason the balance of trade looks better.
“You are making claims about the foreign debt that are not supported by the facts.”
Hey, this time you forgot to include a link to the relevant information. Without it, your above statement is just an opinion of yours.
No, I do not have predictions to make for this primary election. As you know, Macri has contracted a Venezuelan software company to count votes and the system trials have been a disaster so far, just a few days before the election. Fraud may happen.
Which company is that, Kamerad/Komrade Rique? Is it Smartmatic? If so it's not a Venezuelan company. Let's have a name shall we? Or not...
Aug 07th, 2019 - 05:17 am - Link - Report abuse 0RIQUE! PAYASO! VOS SOS EL MENTIROSO!!!
Reekie,
Aug 07th, 2019 - 05:28 pm - Link - Report abuse 0“During the last four years, Argentina has been getting closer and closer to Venezuela status.”
So why has Argentina's credit rating improved from SD to B while Venezuela's had decreased from B2 to C? Please support your answer with data otherwise your above statement is just an opinion of yours. ;-)
“unfortunately, you parrot the government's propaganda”
No, I just point to facts to highlight your false statements (such as the one above) when you parrot the opposition's propaganda.
“Hey, this time you forgot to include a link to the relevant information. Without it, your above statement is just an opinion of yours.”
It is a link I have provided previously. https://tradingeconomics.com/argentina/external-debt You never provide links to support your claims.
I'm sure I have told you this before, but, again, I have never claimed that Macri is perfect and the Argentine economy is in great shape but simply provide facts that show that your claims that ALL that Macri has done has been a complete disaster are not correct.
Facts and their interpretation appear to be your kryptonite so it is quite amusing to see your responses.
The Argentine population can judge the pros and cons of Macri vs. CFK and make their own decisions. I simply ask you why, if Macri has been the complete total disaster that you keep claiming, are the polls so close? Or are they fraudulent too?
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