Argentina unemployment expected to fall
BUENOS AIRES — Argentina's third-quarter unemployment rate is expected to fall to 8.1 or 8.2 percent, President Néstor Kirchner said yesterday in a televised speech. The country's unemployment rate was 10.2 percent in the third quarter of 2006 and 8.5 percent in the second quarter of this year

WB to launch US$5B emerging market bond fund
WASHINGTON — The World Bank plans to launch a US$5 billion emerging market bond fund early next year to help countries develop their domestic capital markets, bank officials told Reuters on Thursday. The Global Emerging Markets Local Currency Bond Fund, or Gemloc, is expected to be launched by early next year and will initially invest in 15 to 20 emerging markets, eventually expanding that number to 40 countries, they said. “It will provide greater liquidity and depth to local currency bond markets and offer investors a broad, diversified portfolio of local currency bonds,” the International Finance Corp, the bank's private sector lender, said in a statement.

Peru’s economy looking towards 8 percent growth
LIMA — Peru's economy could grow eight percent this year, the fastest pace in a decade, and the central bank may raise interest rates to keep inflation under control, Economy Minister Luis Carranza said yesterday. Its base interest rate is currently at five percent and inflation in September was 0.61 percent, the fastest in 30 months. The central bank's inflation target for this year is  two percent, with a plus or minus one percentage point tolerance band. Inflation in the nine months through September was 3.02 percent.

Argentine soybean planting area to increase 5 percent
WASHINGTON — Soybean planting area in Argentina is expected to increase by more than five percent in 2007/08, a US Agriculture Department attaché said. The report from the US embassy in Buenos Aires said planted area was expected to reach 17 million hectares for the 2007/8 crop year, with output around 47 million tonnes.

New Zealand dairy burgeons
WASHINGTON — New Zealand's dairy sector is surpassing the profitability of other livestock sectors, according to a US Agriculture Department attaché from Wellington. The report from the US embassy said beef output and exports from New Zealand were expected to weaken in 2007 but would rebound in 2008.

Suez Energy eyes southern Chile
MEJILLONES — Suez Energy International, a unit of France's Suez said yesterday it was evaluating an expansion of its operations in Chile. Dirk Beeuwsaert, chief executive of the firm that manages Suez's investments outside of Europe, said on a site visit that the company could develop new projects in southern Chile. Suez got out of the south of Chile last year with the sale of its stake in generator Colbun. Suez investments in Chile include stakes in generators Electroandinda and Edelnor and in the NorAndino gas duct.

IMF to talk with Argentina after elections
WASHINGTON — The International Monetary Fund will hold regular economic consultations with Argentina after the country's Oct. 28 presidential vote, an IMF spokesman said yesterday. The consultations will occur at a time when Argentina is seeking a restructuring of US$6.3 billion in debt owed to the Paris Club of creditor nations, a move that will require an IMF-supervised program.

Consumer confidence drops in  Mexico
MEXICO CITY — Mexico's consumer confidence index fell in September to 105.3 points from 108.0 points the previous month, the government said yesterday. Consumers said their families' economic situation had improved slightly in the last year but that their expectations for the next 12 months were not as bright as when last polled in August.

US warns Costa Rica about CAFTA rejection

WASHINGTON — Costa Rica could lose valuable access to the US market if the country rejects a free trade agreement with the United States when voters go to the polls on Sunday, a top US official said. The United States respects Costa Rica's sovereign right to decide whether to join the pact, “but, I hope whatever decision is made is based on the facts,” US Trade Representative Susan Schwab said in a statement yesterday.
 
    (Herald staff with news agencies)