Weekly Report - 25 July 2006

ARGENTINA | Pace of growth easing off. Economic activity in May, as measured by the EAE index, which foreshadows GDP, was up 1.1% on April. This took accumulated growth in the first five months of the year to a level 8% higher than in the same period of 2005. GDP growth in the first quarter was 8.6%; in the whole of 2005, 9.2%.