US EditionArgentina Debt Upgraded by Fitch in Fresh Boost for Milei
- On Monday, May 13, 2025, Fitch Ratings upgraded Argentina’s foreign currency credit outlook from CCC to CCC+, reflecting the country's improving economic momentum under President Javier Milei.
- The upgrade followed Argentina's April removal of most currency controls and securing a US$20 billion IMF financing program.
- Fitch credited the rating improvement to rapid economic recovery led by disinflation, credit reactivation, and liberalizing the exchange market.
- The agency highlighted that the pace of economic improvement and reduction in inflation has surpassed their earlier forecasts, adding that reserves have increased to US$38 billion.
- Fitch cautioned that market access remains costly and that Argentina's midterm elections in October will be a key test for sustaining reforms and reserves.
19 Articles
19 Articles
Fitch ups Argentina's grading by one notch
Fitch Ratings upgraded Argentina's long-term foreign currency debt rating from CCC to CCC+, citing the rapid economic recovery under President Javier Milei. Key factors include a new US$ 20 billion International Monetary Fund (IMF) agreement, with an initial US$ 12 billion disbursement boosting reserves to US$38 billion, and the liberalization of the exchange market an AR$ 1,000 / AR$ 1,400 band per US dollar.
Good news for Argentina and in particular for the economic management of the government of Javier Milei. It is that Fitch improved the debt note in foreign currency in the long term of the neighboring country, which passed to CCC+, from CCC.In addition, the rating of default of the issuer in local currency in the long term from CCC to CCC+.
Although it all depends on the glass you look at and the half that is privileged to draw conclusions about the first round of provincial elections of the year, the truth is that for the government it was all profit when compared to the same elections of 2023. Although the libertarian lists were defeated in three of yesterday’s four contests. The libertarian ruling party began to stand in territories where only the figure of Javier Milei had succ…
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