'Market conditions will continue to be challenging in
Economic conditions in both countries have been hurt by recent currency devaluations. Argentine GDP growth is now projected to shrink from 3.3% in 2013 to 1.5% in 2014, while the Venezuelan economy is expected to contract by more than 1% in 2014. The scarcity of imported goods in both countries remains a concern, especially
Capital controls remain prevalent in both countries as they seek to stem the decline in international reserves. The risk that companies will be prohibited from transferring dollars abroad or converting pesos or bolivars into U.S. dollars or Euros to service debt remains high. In both
The Argentine government is not likely to nationalize assets within the next year as it attempts to improve its access to international markets. In
For more information, a special report titled 'Stormy Corporate Outlook in
Additional information is available at 'www.fitchratings.com'.
Source: Fitch Ratings
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