Ratings agency Moody’s Investors Service has warned the South American country can be “harmful” for Latin America, stating Argentina’s economy is in “decline” and qualifying the country as “highly risky.”
“Inflation, high interest rates and recession have forced Argentine consumers to cut expenses, which would impact negatively on the region, especially on Brazil, Chile and Peru,” a document released by the ratings agency reads.
“Argentina’s sustained economic decline is a threat to Latin America’s growth and to the social progress achieved in the region during the past decade. Together with Brazil, Chile and Peru, Argentina’s growth will be under the 2014-2013 average for the region.”
Moody’s has been a steady critic of Argentina’s economic policies.
buenosairesherald.com