Controlling inflation was one of the conditions the South American country had agreed with the International Monetary Fund (IMF) in exchange for a US$56 billion bailout.
Argentina has imposed new taxes on exports in addition to announcing a string of austerity measures in a desperate attempt to halt the economic crisis stemming from a currency crash and hyperinflation.
Moody’s also expects the government initiatives, slated to be launched after the October mid-term elections, to reduce the fiscal deficit by at least 1% of GDP in 2018.
Foreign firms have announced investments worth more than $33 billion since Macri became president, with the most coming from companies based in the United States, Germany, Canada, Spain, and Brazil.
Over the past months, President Marci has removed export taxes for agricultural products, abolished most currency controls, and taken steps to remove subsidies on electricity, food, and natural gas.
Carlos Slim reportedly met with President Mauricio Macri and discussed purchasing assets of Arsat, which owns billions of dollars worth of radio spectrum.
The deal will help Argentina overcome its financial pariah status and allow President Mauricio Macri's new government to revive the economy with greater ease.