LatinNews Daily - 01 April 2022

In brief: Moody’s doubtful on Argentina and IMF programme

* International credit ratings agency Moody’s has said that while the new International Monetary Fund (IMF) programme with Argentina will unlock funding, the country “will struggle to meet programme targets”. According to excerpts from the report circulated in the media, Moody’s considers that the US$44bn deal, on which the IMF executive board recently signed off, will “help Argentina to eliminate the short-term risk of failing to meet its obligations with the IMF and increase international reserves”. However, it foresees “important implementation risks” and predicts that the main macroeconomic objectives established in the programme will be renegotiated. As a result, Moody’s doesn’t expect the programme to significantly improve Argentina’s general solvency.

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