Brazil's Fraga confident in Argentina's recovery

- Central Banking staff
- 16 Nov 2000

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Brazil's central bank chief Arminio Fraga said Thursday he is confident that neighbouring Argentina will leave its economic woes behind although there will be no "instant miracle." Speaking during a television interview, Fraga said Argentina has been the "victim" of low, commodity prices, a strong dollar and even Brazil's own devaluation last year which gave it a competitive edge over its neighbour. But, he said Argentina will leave its crisis behind. "What Argentina has which is good, is an

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