BUENOS AIRES (voa) – A delegation from the International Monetary Fund is in Argentina for more talks on new loans the country is seeking to emerge from its ongoing economic crisis.
The mission, headed by IMF division chief John Thornton, arrived in Buenos Aires early Thursday for the latest discussions.
The government of President Eduardo Duhalde is hoping to negotiate $9 billion in immediate IMF funding to shore up the troubled economy. Argentina has been in recession the past four years and defaulted on $141 billion in public debt.
In recent weeks, the Argentine Senate has passed key reforms demanded by the IMF as a key condition for aid. They include the repeal of a controversial economic subversion law that criminalized bad business practices and capital flight.
President Duhalde was behind the repeal. He says Argentina needs to abide by international agreements to obtain fresh loans. Last December, the IMF withheld aid to Argentina, saying the government failed to control spending.
