If local and external borrowing conditions in Argentina do not improve, 'both roll-over and fresh financing could be difficult,' Fitch wrote.
The Argentine peso also fell more than 15% against the US dollar amid the turmoil. In the days following the election, markets stayed rocky. The S&P Merval has recovered slightly, but is still down more than 30% from its pre-election level, while the peso's value has slid further against the dollar.
Markets Insider is looking for a panel of millennial investors. If you're active in the markets, CLICK HERE to sign up. There is also the fear for investors that Fernandez will try to renegotiate the agreement Macri secured with the IMF. Even though Fernandez said that he does not plan to default, the analysts wrote that"defaults are typically not pre-planned but happen out of necessity."
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