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Economy & Business - February 2004

ARGENTINA: Better, but

The country ran a primary fiscal surplus of Arg$1.59bn (US$540.2m) in January. This is above the IMF-dictated target, not just for the month but also for the first quarter as a whole: the Fund was demanding a surplus of Arg$1.1bn.
This show of fiscal strength does, however, have drawbacks. It puts the government under further pressure from creditors to improve its offer to them. Currently, it is offering to repay just 25% of its US$88bn debt.

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