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Argentina's economy minister
optimistic about growth
Argentina's Minister of Economy
and Production Felisa Miceli
said she was optimistic about
Argentine economic growth, media
reports said here on Saturday.
In her report at the World Bank
and IMF spring meetings in
Washington, Felisa said
Argentina's economic growth was
estimated at 8.0 to 8.5 percent
for the first two months of 2007
and that she was optimistic
about the economy.
Investments are at their highest
level for the past 20 years,
Felisa said, while warning that
the country still faces the
challenge of transforming the
economy's structure and seeking
more added value for the
production sector.
In spite of Argentina's rosy
economic outlook, the IMF
advised the country to raise
interest rates to slow down the
economy and put inflation under
control.
Disagreeing with the IMF's
advice, Felisa said any economic
policy would have its negative
sides and Argentina would
inevitably face inflation
pressure after four consecutive
years of robust growth, with the
annual rate close to nine
percent.
The IMF predicted that Argentina
will top Latin America's
economic growth in 2007 with 7.5
percent. The region's average
will be 4.9 percent.
Meanwhile, the country's
inflation rate stood at 10.9
percent in 2006 and was
estimated at 10.3 percent for
this year.
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