Press Release: IMF Executive Board Extends Argentina's Repayment Expectations
IMF News, September 17, 2004
Source details
- Canonical URL
- Press Release: IMF Executive Board Extends Argentina's Repayment Expectations
Other formats
Bibliographic details
- Published: September 17, 2004
Decision
- Press Release No. 04/196
- Date: September 17, 2004
- The IMF Executive Board extended Argentina's repayment expectations for a four-month period.
Rationale and policy basis
- "IMF policy on repayment expectations allows for such extension where the member's external position is not sufficiently strong for it to repay early without undue hardship or risk."
- "Because a decision to approve an extension of repayment expectations is a technical one, it is not based on an assessment of the authorities' economic program."
Obligations and commitments
- "During the four-month period in question, Argentina will still face obligations to the Fund of about SDR 1 billion (about US$1.46 billion)."
- "The authorities are committed to remaining current in payments to the Fund."
Recommendations and next steps
- "Argentina was urged to decisively address all the outstanding structural issues in their program, and to complete a comprehensive and sustainable debt restructuring."
- "Contacts between the IMF and the authorities on the policy framework going forward will continue."
Contact information
- IMF EXTERNAL RELATIONS DEPARTMENT
- Public Affairs / Media Relations
- E-mail: publicaffairs@imf.org
- E-mail: media@imf.org
- Fax: 202-623-6278
- Phone: 202-623-7100
Press Release: IMF Executive Board Extends Argentina's Repayment Expectations (Press Release No. 04/196, September 17, 2004).