In September, Argentina's financial conditions passed through its worst month in four years, according to an index published by Argentine financial sector executive association IAE in cooperation with the consultancy firm Econviews.
The "severe stress" of the Argentine system came amid the fall of the peso, a revised agreement with the IMF and a leadership change at Banco Central de la República Argentina, IAE noted.
The financial conditions index, which measures developments in terms of currency, inflation and interest rates, settled at -12.6 points, its lowest since January 2014, the association said.
"The severe stress shown by these three variables is closely linked to the external correction that the Argentine economy has been undergoing for some months, triggered by an abrupt decrease in available external credit. It is unlikely that these variables could show a notable improvement, until the exchange rate instability associated with that correction is deactivated, which could begin to occur in the coming months," IAE and Econviews wrote in a report.
Its global economic index, meanwhile, rose from 20.9 points in August to 22.9 points in September.