Argentina vs Ukraine
Two sovereigns, nine shared metrics, one spread gap.
Head to head
| Argentina | Ukraine | |
|---|---|---|
| BT-SFS score | 42.5 | 11.5 |
| Composite rating | B− | CC |
| Fiscal pillar | 65.7 | 20.4 |
| External pillar | 41.2 | 28.8 |
| Macro pillar | 43.1 | 55.3 |
| Institutions pillar | 60.4 | 12.5 |
| Benchmark bond | ARGENT 4.125 35 | UKRAINE 4.5 34 |
| Spread over Treasuries | 468 bps | 807 bps |
| Yield to worst | 8.83% | 12.22% |
| Duration | 5.3y | 5.5y |
Metric by metric
| Metric | Argentina | Ukraine |
|---|---|---|
| Current account / GDP | -0.8% (60.4) | -18.9% (2.1) |
| International reserves, months of imports | 3.6 mo (26.7) | 5.0 mo (48.9) |
| General government debt / GDP | 70.4% (33.3) | 122.6% (4.2) |
| Interest expense / revenue | 4.5% (81.3) | 11.8% (54.2) |
| Primary balance / GDP | 1.9% (85.4) | -13.3% (0.0) |
| WGI institutional composite | -0.13 (60.4) | -0.66 (12.5) |
| Real GDP growth | 3.5% (57.3) | 2.0% (20.8) |
| GDP per capita, USD | $14,357 (60.4) | $6,980 (37.5) |
| Inflation stress | 30.4% (19.6) | 6.1% (94.5) |
Frequently asked questions
Who has stronger fundamentals, Argentina or Ukraine?
Argentina scores higher on the BT Sovereign Fundamentals Score: 42.5 (Argentina) vs 11.5 (Ukraine), a gap of 31.0 points.
Whose USD bonds trade wider, Argentina or Ukraine?
Ukraine trades wider: 468 bps (Argentina) vs 807 bps (Ukraine) over US Treasuries — a 339 bps gap on near-5-year USD benchmarks.
Related
- Argentina — full Argentina profile: pillars, metrics, history.
- Ukraine — full Ukraine profile: pillars, metrics, history.
- All sovereigns ranked on the Sovereign Signal hub.
- BT-SFS methodology paper — how the scores are built.