Argentina-Debt rating lowered.

ARGENTINA.

DEBT RATING DOWNGRADED.

The Buenos Aires Stock Exchange plummeted on Monday, after Standard & Poor downgraded Argentina’s sovereign debt rating one notch.

The agency expressed concerns about inflation and export markets, after the farmers dispute which looks like starting again.

The fact that the government is sticking to the discredited statistics of 9pc inflation, when reality shows inflation at close to 15 pc, have also played a large part in the downgrading.

The Standard & Poor downgrading from B-plus to B, makes Argentina five levels short of investment grade, leaving the country in a high risk category for investors.

Fortunately the main investors in the beef industry are from Brazil, who understand the ups and downs of Latin America.

This does however come at a time for Argentina, when Brazil, Uruguay and Chile are being upgraded on their credit ratings.

This in itself is a savage indictment on the government policies.