MercoPress. South Atlantic News Agency

Stigltiz: beware of FTAA

Economy Nobel Prize Joseph Stiglitz recommended Argentine president Nestor Kirchner not to subscribe the United States sponsored Free Trade Association of the Americas, FTAA, and praised the current Argentine sovereign debt negotiation process with creditors.

Mr. Stigltiz also had words of encouragement for the recovery of the Argentine economy, although he pointed out that the great challenge is to ensure that "the recovery turns into a sound and sustained economic expansion". "Actually this was the first year in a long time of genuine and significant growth, and I believe it's being done on solid foundations, exports growth and the substitution of imports, given the more realistic exchange rate", stressed Mr. Stigltiz.