June 19, 2018 / 7:20 PM / 2 months ago

Argentina says GDP grew 3.6 pct yr/yr in first quarter

BUENOS AIRES, June 19 (Reuters) - Argentina’s gross domestic product (GDP) expanded 3.6 percent in the first quarter compared with the same period last year and 1.1 percent compared with the fourth quarter of 2017, government statistics agency Indec said on Tuesday.

The figure captures growth in the months before a run on the peso currency forced the South American country to turn to the International Monetary Fund (IMF) for financing in May. Economists expect second-quarter growth to be hit by a hike in interest rates to stem the peso’s depreciation and austerity measures Argentina has promised under the IMF deal. (Reporting by Buenos Aires newsroom Writing by Luc Cohen Editing by Daniel Flynn)

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