Скачать или смотреть IMF says it's close to strike deal for new loans with Argentina

(16 Jan 2003)

1. Wide of presser by IMF
2. Cutaway of press people
3. SOUNDBITE (English) Thomas Dawson, IMF's Chief Spokesman:
"We are hoping to be soon, finalizing, the interim agreement that we are talking about and if things go well we should be in the position in the next thirty-six hours or so of announcing something. We are not there yet, there still is one unresolved issue and we are working to resolve that as soon as we can. I cannot promise it but this is sort of what our hope is."
4. Cutaway of presser
5. SOUNDBITE (English) Thomas Dawson, IMF's Chief Spokesman:
"In terms of going forward there are certainly, as the institutions, and the sense, we are talking about three institutions go forward, each of them have their own policies and so on. And I think when one gets to the point of disbursements then each institution has its own policies and that will have to be addressed at the time. I believe it will be addressed consistently with what the institution's policies are. But , sometimes when we think it is a hypothetical question we mean it will be coming up in three months. It is not quite the same hypothetical question because it is a question that is coming up in the next week or so. But I think it will be addressed."
6. Mr Dawson leaves presser

STORYLINE:

The International Monetary Fund said Thursday it is close to striking a deal with Argentina that would provide the cash-strapped nation with enough new money to avoid a default with the IMF, its last remaining resource of foreign support.

Thomas Dawson, the chief spokesman for the agency, told reporters that an announcement was expected by late Friday, although he cautioned that there was one or more issues still to be resolved.

"We are working diligently to complete an interim program. In a matter of a day and a half, hopefully, we will have something to announce," Dawson said.

He would not describe the remaining issues or state specifically how much money will be unlocked with a deal.

However, Argentina is facing a 1 (b) billion US dollar payment to the IMF, due on Friday. Various reports have suggested the country will receive around 5 (b) billion US dollars that will enable it to meet its obligations to the IMF and other multilateral lending institutions through the scheduled April 27 presidential elections, when a successor to President Eduardo Duhalde will be chosen.

The Inter-American Development Bank announced that Argentina has failed to meet a 680 (m) million US dollar payment that was due on Wednesday and in November defaulted on all but a fraction of an 805 million US dollar loan coming due to the World Bank.

South America's second-largest economy has been mired in its worst financial crisis for more than a year since it was forced to default on the bulk of 141 (b) billion US dollars in foreign obligations, devalue its currency and freeze bank deposits.

Argentina has been locked in protracted negotiations with the IMF over new loans it badly needs to rescue its economy but has been unable to meet IMF demands over the shape of an economic reform program.

Last month, the agency announced it would seek to provide the country with a "transitional" program that would allow the nation to meet its obligations to the IMF and other multilateral lenders but would not include all the tough austerity measures that a full IMF program would include. The full program that would unlock new
loans will not be negotiated until after a new government is chosen, Dawson said.




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