A report on emerging markets carried out by the Institute of International Finance (IIF) holds that "FDI climate has become materially less favourable in Argentina, Ecuador and Venezuela in recent years leading to virtually no net inflows. This is projected to continue in 2008." The organization also doubts about figures disclosed by Argentine Statistics and Census Institute (INDEC). Fredirck Jaspersen, IIF manager for Latin America, stated that "August figure has showed economic growth had hit 9.2 per cent, but this is a really high level when manufacturing production is falling."
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