# Argentina is in default, says Standard & Poor’s – The Irish Times

> S&P declared Argentina in default after the government extended maturities on short-term paper and sought a voluntary reprofiling of about $50 billion in longer-dated debt. The ratings firm lowered Argentina's rating to selective default.

- Date: 2019-08-30 · published 2019-08-30T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/57876-argentina-is-in-default-says-standard-and-poor-s-the-irish-times
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

A sovereign default increases currency volatility and import financing stress in a major soymeal exporter, which can shift export pricing and trade flows.

## Read by commodity

- USDARS: bearish ▼

## Sources

- irishtimes.com: https://www.irishtimes.com/business/economy/argentina-is-in-default-says-standard-poor-s-1.4002459

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.