LatinNews Daily - 02 April 2009

Argentina: The prospect of a rapprochement between Argentina and the IMF moved a step closer on 29 March when the Fund's western hemisphere director, Nicolás Eyzaguirre, said that he and his colleagues were “ready and willing" to discuss a loan deal with the country. The IMF has faced heavy criticism in Argentina in recent years led by the previous president, Néstor Kirchner, who blamed it for the crisis of 2001-02. Argentina paid off its outstanding IMF debt in 2006 and has had little contact with the Fund since. Eyzaguirre said that the Fund was waiting on government approval for an 'Article IV' consultation, an economic diagnosis of the country which is the first step towards future loan agreements.