- Title: ARGENTINA: IMF CHIEF MEETS ARGENTINE LEADERS FOR TALKS ON FOREIGN DEBT.
- Date: 25th June 2003
- Summary: (U7) BUENOS AIRES, ARGENTINA (JUNE 24, 2003) (REUTERS TELEVISION) 1. GV/CU/MV: EXTERIOR OF CENTRAL BANK BEING GUARDED BY POLICE (3 SHOTS) 0.11 2. VARIOUS: PROTESTERS OUTSIDE OF BANK CARRYING POSTERS READING "Get out Koehler and the IMF."; PROTESTERS AT CENTRAL BANK CHANTING AGAINST FOREIGN DEBT PAYMENTS; U.S. FLAG BEING BURNED (10 SHOTS) 0.49 3. MCU: (SOUNDBITE) (Spanish) SOCIALIST PARTY CANDIDATE FOR DEPUTY, JUAN CARLOS GIORDANO, SAYING: "The only thing that the IMF demands is that we keep paying the (foreign) debt, that public tariffs be raised, that there be more reductions and a restructuring of the public bank. This means there will be thousands of unemployed people." 1.01 4. MV: ARGENTINE PRESIDENT NESTOR KIRCHNER GREETING MANAGING DIRECTOR OF THE INTERNATIONAL MONETARY FUND (IMF) HORST KOEHLER IMF REPRESENTATIVE ANOOP SINGH (NOT SEEN) 1.11 5. MV/PAN: KIRCHNER WALKING TOWARD CONFERENCE TABLE 1.15 6. MV/PAN: IMF DELEGATE SIDDHARTH TIWARI WALKING TOWARD CONFERENCE TABLE 1.19 7. MV/CU: KOEHLER AND KIRCHNER SMILING (3 SHOTS) 1.30 8. MCU:IMF EXTERNAL RELATIONS DIRECTOR TOM DAWSON WITH TRANSLATION EARPIECE 1.30 10. MCU: KOEHLER WITH TRANSLATION EARPIECE 1.33 11. MV: KIRCHNER LOOKING ON 1.36 12. MV: IMF OFFICIALS TOM DAWSON AND ANOOP SINGH LOOKING AT DOCUMENTS 1.37 13. GV: OFFICIALS AT CONFERENCE TABLE 1.40 Initials Script is copyright Reuters Limited. All rights reserved
- Embargoed: 10th July 2003 13:00
- Keywords:
- Location: BUENOS AIRES, ARGENTINA
- Country: Argentina
- Reuters ID: LVA8SEE7LKH62PD0OXYWSPV1Q00
- Story Text: Managing Director of the International Monetary Fund
(IMF) Horst Koehler had a meeting with Argentine political
leaders and newly-elected President Nestor Kirchner to discuss
the country's foreign debt, 18 months after the South American
giant recorded the largest debt default in history.
On his second day of a two-day visit to Argentina,
Managing Director of the International Monetary Fund (IMF)
Horst Koehler met Argentine President Nestor Kirchner and
political leaders on Tuesday (June 24) to discuss the economic
relationship between the two, while Argentines, struggling
under high poverty and unemployment rates, protested against
IMF reforms.
Considered a star pupil of free-market policies in the
1990s, Argentina fell from grace with the IMF and United
States after mismanagement led to economic collapse 18 months
ago and a default on $95 billion in debt, the largest in
history.
The IMF came under heavy fire for its role in the crisis
and its failure to bail out Argentina in its time of need.
But, six months ago, the two sides managed to strike a
$6.8-billion debt rollover deal that expires in August.
Outside the Central Bank, crowds of demonstrators burned
U.S. flags and protested against IMF policies that they say
may have prolonged the nation's economic crisis.
Acutely aware of anti-IMF sentiment in their country,
Argentine political leaders said they would not sacrifice
economic growth on the negotiation table.
"The only thing that the IMF demands is that we keep
paying the (foreign) debt, that public tariffs be raised, that
there be more reductions and a restructuring of the public
bank," said Socialist Party candidate for Deputy Juan Carlos
Giordano. "This means there will be thousands of unemployed
people."
Latin America's No. 3 economy is one of the largest
debtors to multilateral lenders. Argentina owes $14 billion to
the IMF and $31 billion to multilaterals as a whole.
Now, with a newly elected president who is proving to be
popular and a nascent economic recovery, Argentina and the IMF
have signalled that they may be able to forge a long-term
deal, rather than extend the current accord.
The IMF set the stage for an upbeat visit after approving
last week the second review of the current loan programme,
delayed after the government extended again an "emergency"
measure to protect homeowners from mortgage foreclosures - in
violation of the accord.
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