News Brief: IMF Statement on Argentina

December 20, 2002

Thomas C. Dawson, Director of External Relations at the International Monetary Fund (IMF), issued the following statement today after an informal meeting of the IMF's Executive Board on Argentina:

"The Executive Board met informally today to discuss the situation in Argentina. They welcomed the Argentine authorities' commitment to continue to work with the IMF. They also welcomed the authorities' request for a transitional program with the IMF which would involve no positive net new financing from the Fund.

"The Executive Directors agreed that the Fund would consider this request from Argentina which could pave the way for a comprehensive program to be adopted after the presidential elections in 2003. An Article IV discussion is planned to be held in early January and Directors expressed the hope that a transitional program could be agreed as soon as possible after that date.

"Executive Directors again expressed their strong and continuing commitment to work with Argentina."



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