Latinnews Daily - 30 November 2017

Argentina: Moody’s Investors Service (Moody’s) has upgraded the Argentine government's local and foreign currency issuer and senior unsecured ratings to 'B2' from 'B3'. A Moody’s press release cites as the key drivers of the upgrade: 1) A record of macro-economic reforms that are beginning to address long-existing distortions in Argentina’s economy; and 2) The likelihood that reforms will continue and in turn sustain the recent return to positive economic growth. The press release adds that Moody's expects that “after years of stop-and-go economic growth Argentina is poised to grow two years in a row in 2017-18, the first time since 2011”. Moody's expects that Argentina's domestic economy will grow by 3% in 2017 and 3.5% in 2018, after contracting 2.3% in 2016. Reasons cited for Argentina's improved economic growth outlook include “increased business and consumer confidence and higher investment rates”.

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