Moody's downgrades Argentina's outlook

Moody's Investor Service agency has downgraded Argentina's outlook from stable to negative, stating that it was due to risky economic policies along with the lack of confidence in official statistics.

Moody's assured that it could cut the country's rating to Caa if its decisions affect the economy and its debt.

The deterioration of the prices, the persistent drop in the international reserves and a hike in debts' ratio due to lack of development in fiscal adjustment also led to the downgrade, the agency continued.