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 in

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