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Strategies & Market Trends : Argentine stocks

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To: Tom who wrote (324)	7/1/1999 1:42:00 PM
From: EPS	of 331

Hi Tom, Looks like rough times will continue down there. I thought that one of the objectives of the privatization was to reduce the debt..Corruption, of course, has no justification, but the level of corruption of the process of privatization is even harder to justify when at the same time it demands sacrifices and hardship for a sizable part of the populace. Thus, it is a political issue. Perversely, since they have more or less given up the right to tune/adjust their own economy according to their own cycles, now they find themselves without options to get out of the current recession. The fact that Argentina's Mercosur partners (Brazil specifically) have devalued just makes it so much more difficult. Indeed with the devaluation of the crusado the Mercosur seems to be in a catatonic state. If things continue and Argentina keeps buying meat from Brazil soon enough the whole thing will tend to fall apart.. Yes, indeed I have big (2-3-(4th(-5)) of July plans! Hope you too have a good one! Best Victor

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