On Friday, March 24, 2023, the Fitch rating agency lowered Argentina's dollar-denominated debt by two crans Argentina's dollar-denominated debt . She changed it from "CCC-” to “C”, just above default, maintaining the rating of the debt issued in pesos.

L'agence Fitch explains the deterioration of Argentina's debt by two government decrees, published last week. These decrees require “several private and public sector entities” to exchange their debt issued in dollars with debt issued in pesos. According to the Deputy Minister of the Economy, Gabriel Rubinstein, the Argentine government justified this measure by explaining that “in a sustainable way, the State will gain in its capacity to act on the dollar financial markets, which will make it possible to avoid disruptive increases.” It should be noted that the agency has maintained the rating of Argentina's long-term debt expressed in pesos at “CCC-”, unchanged.