Argentina's country risk hits eight-year low as rating upgrades lift dollar bonds
Argentina's country-risk gauge fell to its lowest level in eight years as rating upgrades lifted the country's dollar-denominated bonds. Investor confidence is rising on support for the government's fiscal-discipline program. Bond yields declined.
Argentina's country-risk gauge fell to its lowest level in eight years after international credit-rating agencies raised the country's grades. The move sharply lifted Argentina's dollar-denominated bonds, MercoPress reported.
Investors are placing growing confidence in the government's program to cut public spending and narrow the budget deficit. A lower risk premium could allow the country to borrow on more favorable terms.
Analysts say the decline in bond yields reflects market expectations of fiscal stability. Still, high inflation and social costs continue to pose risks to the sustainability of the program.
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