IMF's Rato sees S American inflation decline in 05

The head of the International Monetary Fund said on Wednesday 20 April that Latin America is likely to see a further decline in inflation in 2005, despite higher oil prices.

"Despite higher prices of oil and some commodities, inflation has remained relatively low, approaching 6.5 percent last year, with a further decline projected for 2005," IMF Managing Director Rodrigo Rato told investors at the Yale Club in New York.

Rato said countries should ensure that fiscal discipline has not resulted

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