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Slower deficit reduction does not impede Argentina upgrade - Moody's

Reuters

BUENOS AIRES, Sept 29 (Reuters) - A slower reduction in Argentina's deficit than initially promised by President Mauricio Macri's government does not impede a credit upgrade in Argentina, Moody's senior analyst Mauro Leos said in an interview on Thursday.

Argentina's government proposed earlier this month a 2017 fiscal deficit equivalent to 4.2 percent of gross domestic product, higher than the 3.3 percent promised in January. Moody's upgraded Argentina's credit rating to B3 from Caa1 in April.

(Reporting by Luc Cohen; Writing by Caroline Stauffer; Editing by Chizu Nomiyama)