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Last Updated: Wednesday, 8 December, 2004, 12:22 GMT
Bank calls for Argentine reforms
World Bank building
The World Bank demands more effort from Argentina
The World Bank has approved a $200m (103m) loan for infrastructure projects in Argentina but also demanded more reforms to the country.

The Bank said in a statement that conditions for loans for the recovery of the country "have not been met yet".

The institution froze $500m in June until the government resumed talks with the International Monetary Fund.

Nevertheless, disbursements for much-needed infrastructure projects are continuing.

Joblessness down

The announcement of the World Bank came just after President Nestor Kirchner revealed that unemployment rate in the third quarter had fallen to 13.2% from 14.8%.

That shows a strong recovery, according to Mr Kirchner, who also predicted the figure would drop below 13% by the end of the year.

Official data disguise the high level of informal and precarious jobs, with low employment standards and salaries.

Unemployment rates in Argentina were fallen since May 2002, when it was more than 20%.


SEE ALSO:
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