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Fitch rated Argentina CC and said a restructuring or default on foreign-currency bonds is likely. The agency questioned the scope of the government's plan to limit peso supply and noted foreign-currency bond payments will rise to US$9 billion in 2025.
Net reserves are believed to be about US$6 billion negative.
Sovereign default risk and reserve stress can drive peso volatility and disrupt Argentine export financing, which feeds into soymeal and corn export flows. The direct effect on feed prices is limited.
en.mercopress.comJul 25, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
