Argentina rating upgraded to B‑ by Fitch as Milei reforms boost economy

Fitch Ratings raised Argentina’s long‑term sovereign rating to B‑ from CCC+ with a stable outlook, reflecting growing confidence in the country’s economic recovery under President Javier Milei. The agency highlighted stronger fiscal and external balances, the rollout of labor and mining reforms, a 2026 budget focused on fiscal discipline, and the nation’s transition to a net energy exporter.

Argentina posted a record first‑quarter trade surplus of $5.5 billion, far above the $1.1 billion a year earlier, and has accumulated $7.1 billion of foreign‑exchange purchases by April. Inflation eased to 1.5 % month‑over‑month in May after peaking at 3.4 % in March. Fitch projects GDP growth of 4.4 % in 2025 and 3.2 % in 2026, while noting risks from weak international liquidity and upcoming foreign‑currency debt service obligations.

The upgrade signals tighter financing conditions for Argentina and may improve its access to international capital markets, though the rating remains vulnerable to liquidity pressures and debt repayments in the coming years.