Around the World's Markets: Buenos Aires

ARGENTINE SHARES edged higher after senior finance officials confirmed that the country was making progress on plans for dollarisation. By mid- afternoon the benchmark Merval index was 0.6 per cent higher at 384.38.

Miguel Kiguel, a senior finance official, said the government hoped to hold talks with the US next month over proposals to adopt the dollar as the national Argentinian currency. Full dollarisation, which would eliminate all risk of devaluation, is expected to take two to three years.