November 9, 2018
Fitch Ratings has held its B rating for Argentina but revised the outlook to negative from stable as it expects the economy to contract in 2018 and 2019.
"Fitch assumes that in 2019 the government will achieve the fiscal adjustment targeted in the budget and that the recently renegotiated IMF program will help it fully cover its financing needs, but sees downside risks amid a nascent economic recession and election cycle," the ratings agency said in a report.
Fitch expects Argentina's GDP to f
Rating agency sees the GDP falling 2.7% this year as inflation approaches 50%