Hernan Etchaleco: IMF backs Argentinean restructuring debt plan

Horst Koehler, International Monetary Fund managing director, asked today for a general agreement between Argentina and its creditors to attend the urgent financial necessities of the country. Koehler expressed to the press in Washington that the IMF "Gave a just and equal help to Argentina to solve the crisis".

Koehler's speech was released 24 hours before the meeting between Domingo Cavallo, Argentinean Treasury Minister, and Paul O'Neil, US Secretary of Treasury scheduled for tomorrow in Ottawa, Canada. Presumably, Argentina will ask for further support from the United States, after the meeting President Bush and President De la Rua sustained last week in New York.

Last week, became clear Washington backs Argentinean new plan and yesterday, Governors agreed, after one month and a half of negotiations, a crucial reprogramming of the debt, the Nation has with the provinces. However, the country-risk remained today over 2700 points, the highest in the world, and the shadows of default persist as a threat among the financial markets.

Whilst Brazilean President Fernando Henrique Cardozo remarked today that Brazil is not linked to the crisis in Buenos Aires, another regional Heads of State as Jose Batlle, Uruguayan President, asked for more support to Argentina, reminding that the IMF "Approved new credits for Turkey and they are in worse situation than Argentina".

Hernan Etchaleco PRAVDA.Ru Argentina