Argentina: Has INDEC had a reality check?

The most striking thing about Argentina’s Q2 GDP data is that the upward bias to growth, which has been evident in the official figures since mid-2007, seems to have eased. Even so, there are no signs of a more credible turn in the official inflation statistics. The most likely explanation is that this is part of a tactical ploy to avoid a coupon payment on GDP warrants.

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