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Moody's: Argentina, IMF deal to stem funding risks

Argentina's $50 billion standby arrangement with the International Monetary Fund lessens the government's funding risks and will aid in fiscal consolidation, said Gabriel Torres, vice president and senior credit officer at Moody's.

"Argentina's announced agreement with the IMF reduces the government's immediate external funding risks and will help accelerate the country's fiscal consolidation efforts," Torres said in an emailed statement June 8th.

The IMF deal is designed to address Argentina's fiscal concerns, as the country faces large deficits and high inflation.

According to Torres, the IMF's conditions that require greater central bank autonomy and the end of ongoing Treasury funding will also help in controlling inflation.