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Argentine GDP warrants plunge after growth data
March 28, 2014 / 2:45 PM / 4 years ago

Argentine GDP warrants plunge after growth data

BUENOS AIRES, March 28 (Reuters) - Argentina’s GDP warrants plummeted by as much as 47 percent on Friday, a day after the country reported 2013 economic growth under the level that would have triggered payment.

Argentina said on Thursday its gross domestic product expanded 3.0 percent last year, below the 3.22 percent level that would have led to about $3.5 billion in payments to holders of GDP bond warrants.

Peso-denominated coupons plunged 47 percent on Friday, euro-denominated ones fell 34.5 percent and dollar-denominated coupons lost 29.5 percent on the Buenos Aires stock exchange in opening trade. (Reporting by Jorge Otaola Writing by Rosalba O‘Brien; Editing by James Dalgleish)

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