On Wednesday, July 22, 2026, the Argentine blue dollar closed at 1,555 pesos in Buenos Aires, while the official rate saw a slight increase to 1,505 pesos. Financial markets are breathing a sigh of relief as Moody's upgraded the country's risk rating, pushing stocks up and bringing the country risk closer to 400 basis points.
Following the conclusion of the 2026 FIFA World Cup, the Argentine government refocuses on its economic and political agenda. Economy Minister Luis Caputo introduces a Tax Amnesty bill, Route A012 is transferred to Santa Fe province, President Javier Milei travels to Brazil, and the CGT labor union resumes street protests.
With a positive tone of economic reactivation, the Argentine national government presents its agenda following the 2026 World Cup. Key highlights include the presentation of the Fiscal Innocence Law reform by Economy Minister Luis Caputo, a historic agreement to transfer Route A012 to Santa Fe province, and President Javier Milei's trip to Brazil for the Liberal Party Congress.
On a positive financial day on July 21, 2026, Argentina's S&P Merval jumped 1.8% driven by rising oil prices and Wall Street. The big news came from Moody's, upgrading the country's rating to B3, aligning with S&P and Fitch for the first time in a decade. This historic alignment opens doors for institutional funds to inject capital into the South American nation.
In a historic shift for South America's second-largest economy, Moody's upgraded Argentina's sovereign debt from Caa1 to B3 with a positive outlook. This aligns all three major rating agencies at B- for the first time in over a decade, driven by strict fiscal austerity and macroeconomic stabilization.
On July 20, 2026, Argentina's financial market opened the week with stability. The official dollar remained steady at $1,500 for sale at Banco Nacion, while the wholesale dollar saw its fourth consecutive rise, closing at $1,481. Investors are regaining confidence in peso-denominated investments, driven by decelerating inflation.
The financial market is brimming with optimism over a potential upgrade to Argentina's credit rating by Moody's. Analysts suggest that a shift from 'Caa1' to 'B3' could trigger a jump in dollar-denominated bonds of up to 7% and push the country risk below 400 basis points.
La directora global de riesgo soberano de Moody's, Marie Diron, señaló que el mercado percibe a Argentina como un país más riesgoso de lo que indican sus calificaciones crediticias. El riesgo país argentino se ubica en torno a 515-535 puntos, muy por encima de países con calificaciones similares como Ecuador y El Salvador.
Alfredo S. Quiroga
