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Financial News: ARGENTINA: Country Needs More Growth To Offset Debt

ARGENTINA: Country Needs More Growth To Offset Debt Cocerns - S&P

08/27/2017 - 17:18:00 (RTTNews)

(RTTNews) - Argentina should grow at a higher rate than the current one so that debt is not worrisome in the long term, said Roberto Sifón Arévalo, Standard & Poors (S&P) Global Ratings' executive director and leader of Sovereign Ratings and International Public Finance for the Americas.

For Argentina's rating to improve, "the reforms have to continue," he added while speaking at the Council of the Americas.

When asked about the government's gradualist prescription for lowering the fiscal deficit, Arévalo said that "it is sustainable as long as the economy recovers at a faster rate than the current one. There is a question mark about debt, which in little time could become worrisome if the activity does not advance more, and in that case, it will be necessary to impose a greater speed to the fall in public expenses."

Also, the S&P director considered that investors "expect certainty of governance, stability, exchange rate horizon, inflation, capital costs" and remarked that the most of them would wait until after October legislative elections to see "the results and its political significance."

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