Argentina-Forecast good for farming in 2009.

ARGENTINA-

CENTRAL BANK OPTOMISTISTIC ABOUT FARMING IN 2009.

The Central Bank of Argentina, forecast on Wednesday that the economic growth will hover near four percent for 2009, with consumer inflation at 7%, which are rather comforting figures in today’s crisis, according to economists.

The head of the central bank said, that in 2008, there were three complex situations that had to be faced. The mortgage crisis, the monetary imbalance caused by the four month farmers dispute and the worsening international financial crisis.

Stocks gained slightly on Wednesday but finished down for the year close to 50%, compared with Wall Street the Dow 34.7% and the S&P 500 41.5%.

Commodity prices have appeared to have bottomed and the cattle market is steady, albeit light on export orders currently. Inflation is well under control which was in fact the largest concern at this time in 2007