|
|
 |
|
Viewing report
|
|
|
|
Argentina: Regaining the Momentum for Structural Reform
Standard & Poors, Feb 2000
Abstract
Economic reform undertaken by the Menem Administration brought strong growth to Argentina. However, in 1998/1999, the country experienced three major external shocks. First, Argentina's terms of trade worsened as the prices of its main export commodities fell; second, its borrowing cost increased sharply after the Russian default; and third, the country's real exchange rate appreciated following the devaluation of the Brazilian real and the strengthening of the U.S. dollar. The economy, having been transformed by structural reform, showed that it was resilient enough to deal with these external shocks, which nevertheless contributed to a serious recession in 1999 and exposed structural economic weaknesses. Last year's recession left the authorities with a deteriorating fiscal situation and highlighted the need to address...
Companies mentioned in this report are: Santa Fe,Argentina (Republic of) (Unsolicited Ratings),Russian Federation,Buenos Aires (City of)
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
|
|
|
|
