Argentina Seeks IMF Help to Shed Poor OECD Export Credit Risk Ranking
Argentina’s sovereign debt may be outperforming most of its emerging-market peers this year, but the OECD says the country is as risky as North Korea, Venezuela and Iran. The ranking is a remnant from the days when Argentina was still a pariah in international markets -- and it could soon change. About half a dozen International Monetary Fund economists are set to touch down in Argentina in September to assess the reliability of the country’s economic statistics and the sustainability of its fiscal and monetary policies, as well as the banking industry. The so-called Article IV consultation -- normally an annual review but, in Argentina’s case, the first in a decade -- is a key step to reclaiming legitimacy among organizations like the OECD and unlocking cheaper financing from member nations.