THE ARGENTINE EMBASSY IN THE UNITED KINGDOM ECONOMIC & COMMERCIAL SECTION 65 Brook St. London W1K 4AH Tel: 020 7318-1300 Fax: 020 7318-1331
[email protected] www.argentine-embassy-uk.org NEWSLETTER MAY 2004 Content ARGENTINE ECONOMIC OVERVIEW *Extracts from the recent speech delivered by the Argentine Minister of Economy and Production, Roberto Lavagna, at the IMF (24 th April 2004) *Extracts from the latest Inflation Report published by the Argentine Central Bank (BCRA, 22 nd of April) FINANCIAL SECTOR *Improved tax receipts and primary fiscal surplus *Extracts from the presentation and comments made by the Argentine Minister of Economy and Production, Roberto Lavagna, in the Council on Foreign Relations (New York, 21 st of April 2004) ARGENTINE TRADE (provincial exports) TRADE NEWS *MercoLáctea *The London International Wine & Spirits Fair (18-20 May 2004) *Argentine trade stands in Polo events *Co-operation Agreement between EU and INTI (the Argentine Institute for Industrial Technology) ARGENTINE ECONOMIC OVERVIEW Extracts from the recent speech delivered by the Argentine Minister of Economy and Production, Roberto Lavagna, at the IMF (International Monetary and Financial Committee, 24th April 2004): - After a strong real GDP growth rate estimated at 8.7% during 2003, the growth momentum of the Argentine economy continues encompassing practically all areas of economic activity. Sound macroeconomic policies, including the elimination of the quasi-moneys and the appropriate level of the exchange rate, a favourable external environment, and the high degree of popular support for the government, in the context of a smooth political transition, have all contributed to strengthen investors and consumer confidence which is, in fact, the real underpinning of economic activity in Argentina these days.