Argentina: Moody’s estimates -1.5% GDP and hyperinflation

Argentina is still in recession, despite the great strides made by the new government Macri to reactivate growth. According to Moody's, GDP will contract by 1.5% this year, given the ongoing growth of unemployment and inflation that remains above 30%.

The agency provides that in Buenos Aires the new policy will not begin to have an effect before next year. The Moody's report comes as a result of Argentina's return on the capital market, after an absence of 15 years.

A result that the same Moody's defines "significant" for the new government, which has yet to deal with persistent macroeconomic imbalances. In any case, the opening of the capital market – is sottolinea- will push many companies to sell short bonds, loosening the thirst for capital.