Argentina posts 3 pct growth in 2013, dodges GDP warrant bullet

jueves 27 de marzo de 2014 16:29 GYT

BUENOS AIRES, March 27 (Reuters) - Argentina said on Thursday its gross domestic product expanded 3.0 percent in full-year 2013, just below the 3.22 percent level that would have triggered about $3.5 billion in payments to holders GDP bond warrants.

Warrants trading in the secondary debt market fell up to 13.7 percent after Argentina announced the 2013 growth figure.

Argentina issued GDP warrants, payable if growth in Latin America's No. 3 economy exceeds pre-set yearly levels, as part of debt restructurings that were negotiated in 2005 and 2010.

The bond revamps followed the country's 2002 sovereign default, which triggered an economic meltdown that pushed millions of middle-class Argentines into poverty. (Reporting by Hugh Bronstein and Alejandro Lifschitz, editing by G Crosse)