Argentina’s economy grew more than expected in April as President Javier Milei loosened some currency controls as part of a US$20-billion agreement with the International Monetary Fund.Economic activity rose 1.9 percent in April from March, compared with the median estimate of 0.3 percent of analysts surveyed by Bloomberg. From a year ago, activity rose 7.7 percent in April, also surpassing expectations, according to the government. Argentina’s retail sector led growth in April, followed by manufacturing and finance. Construction grew 17 percent on the year while the financial sector grew 28 percent amid a boom in credit. Separately, Argentina extended growth in the first quarter of the year, with consumer spending growing 2.9 percent quarter on quarter.
SOURCE: BUENOS AIRES TIMES