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The World Bank notes that 2006 probably represented a peak in the global economic cycle, and that governments should gird themselves for a somewhat less benign environment ahead. A press statement issued by the World Bank notes that the restitution of private-property rights is "a necessary element in creating an investment climate conducive to attracting needed capital. Although Fitch downgraded Argentina's sovereign ratings to 'C' from 'CC' today due to the distressed debt exchange, the Argentina World Bank notes are not included in the exchange. |
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