Argentine debt: East-West Debt news update on the debt situation in ARGENTINA.

The International Monetary Fund (IMF) reached agreement with Argentina's president to start negotiations for a three-year debt relief program to Argentina

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East-West Debt october 2003 news, update : ARGENTINA

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Argentina gets thumbs up

The International Monetary Fund (IMF) reached agreement with Argentina's president to start negotiations for a three-year debt relief program to the country, replacing a short-term program that expired in August.

IMF Managing Director Horst Koehler made the announcement in the Argentine capital, Buenos Aires, at the end of a two-day visit to the country, saying he was surprised by the level of recovery he had seen in Argentina.
Eighteen months ago, the country defaulted on more than half its debt after being cut off from IMF support.

The managing director said he believed the new Argentine president, Nestor Kirchner, had a vision for the future which would lead to rigorous growth and social cohesion. The Fund hopes to negotiate a three-year debt relief program rather than another short-term package.

The Fund and the Argentine government had agreed on the need for deeper structural reforms that would also attract foreign investment.

ALGERIA ARGENTINA ANGOLA INDONESIA IRAQ PAKISTAN VENEZUELA ZAMBIA

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three-year debt relief program to Argentina