...- Reflecting strong policy commitment, Argentina continues to comply with challenging targets under its International Monetary Fund (IMF) Stand-By Arrangement, despite a second year of economic contraction and uncertainties ahead of the October national elections. - Persistent inflation and pronounced fiscal and external vulnerabilities prompted further adjustment of aspects of the exchange-rate framework, coupled with ongoing policy commitment, which have seemingly stabilized market volatility. - We are affirming our long-term foreign currency and local currency ratings on Argentina at 'B' and our short-term foreign and local currency ratings at 'B'. - The outlook on the long-term ratings remains stable, based on the balance of risks stemming from the uncertain election outcome, the need for the next government to continue to implement policies to stabilize the economy, slow inflation, and manage fiscal and external financing vulnerabilities and the manageable debt amortization profile...
