The International Monetary Fund (IMF) is insisting the Argentine government repay almost $3 billion in debt this week before agreeing to sign a new accord, La Nacionis reporting today.
A high-level IMF mission is in Buenos Aires to discuss rescheduling part of Argentina's external debt. Extension of the maturity on $7.3 billion due by mid-year is on the table, according to press reports.
To increase pressure on the Argentine government to meet its conditions, the IMF has postponed until January 23rd a meeting, initially scheduled for Friday, at which the agreement with Argentina was to have been discussed.
The IMF is demanding repayment of money this Friday. The IMF is owed $1 billion; $845 million is owed to the Inter-American Development Bank; and $726 million owed to the World Bank, the reports said.
President Eduardo Duhalde has said his government will not repay any maturing debt before an accord with the IMF is signed.
"The position of our government is already known: we will release the payments if there are public guarantees of an accord" with the IMF, cabinet secretary Mr Alfredo Atanasof said.
Argentina defaulted on its $141 billion public debt in December 2001 and announced a year later it would not make payments on an $850 million debt with the World Bank.
AFP