Moody’s warned of credit risks and loss of value of the economy of $100 bn

The rating agency Moody’s warned that credit risks in Argentina remain high, due to the deepening economic contraction that began in 2018. The challenging macroeconomic environment, which includes high inflation, low liquidity and low credit availability, is likely to continue to affect various debt issuers. By the end of Q1 2021, Argentina’s economy will have lost more than $100 billion in value, or 14.5% of GDP, as recorded three years ago. No losses are forecast beyond the 35%-65% range associated with Argentina’s current sovereign ‘Ca’ rating.

Source: Ámbito