S&P cuts Argentina debt rating
By MG News | November 13, 2018 at 03:37 PM GMT+05:00
November 13, 2018: International ratings agency S&P said Tuesday that Argentina's rating has been cut by one notch because of an "erosion" in the country's growth, inflation and debt profiles.
The International Monetary Fund last month approved a $56 billion loan package for Argentina -- up from $50 billion initially agreed in June -- to help the government implement a tough austerity programme to stabilize the economy.
S&P said Argentina's long-term foreign and local currency ratings had been lowered to 'B' from 'B+' following a review dating back to August.
"There has been an erosion of Argentina's economic growth trajectory, inflation dynamics, and debt profile following setbacks in implementing its challenging economic adjustment program," S&P said in a statement.
"The outlook on the long-term ratings is stable based on our expectation that the government will implement fiscal, monetary, and other measures to stabilize the economy over the coming 18 months," it added.
(AAP)
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 132,456.58 112.84M |
-0.71% -946.61 |
ALLSHR | 82,905.84 635.44M |
-0.34% -282.21 |
KSE30 | 40,312.06 40.01M |
-0.83% -339.40 |
KMI30 | 190,608.18 46.38M |
-0.77% -1475.73 |
KMIALLSHR | 55,667.96 324.32M |
-0.32% -179.74 |
BKTi | 36,111.35 7.05M |
-0.86% -311.53 |
OGTi | 28,213.62 7.75M |
-0.79% -223.99 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 109,165.00 | 109,545.00 108,625.00 |
-50.00 -0.05% |
BRENT CRUDE | 70.52 | 70.55 69.85 |
0.37 0.53% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
2.05 2.15% |
ROTTERDAM COAL MONTHLY | 106.65 | 106.65 106.25 |
0.50 0.47% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 68.71 | 68.76 67.78 |
0.38 0.56% |
SUGAR #11 WORLD | 16.22 | 16.26 16.08 |
0.09 0.56% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|