Accessibility links

IMF Grants Argentina Loan Extension - 2002-11-21


The International Monetary Fund has extended by one year a $141 million repayment due Friday by Argentina.

The IMF decision gives Argentina some breathing room after it defaulted on a similar obligation to the World Bank.

After the default on the World Bank loan, there was speculation Argentina might also default on the IMF loan.

The IMF's deputy managing director, Shigemitsu Sugisaki, said in a statement that it "regretted" the default to the World Bank and cautioned that no new aid would be coming soon from the IMF.

Meanwhile, the French news agency reports Argentina's Economy Minister Roberto Lavagna will travel to Europe next week seeking support in his loan negotiations with the IMF.

XS
SM
MD
LG