WASHINGTON (voa) – The International Monetary Fund says it will hold a new round of talks with Argentina to negotiate possible fresh loan aid for the cash-strapped nation.
On Thursday, IMF spokesman Thomas Dawson told reporters in Washington a mission will go to Buenos Aires in phases, with an initial technical team leaving next week. Mr. Dawson says the mission is not expected to reach a final agreement, but that if the talks are productive, IMF officials could start drafting a letter of intent for new aid during a follow-up mission.
Argentina is reportedly seeking billions of dollars from the IMF in an effort to end a devastating economic crisis that has left more than 20 percent of the work force without jobs. The country has been in recession for nearly four years.
The IMF has said Argentina must craft a viable economic recovery plan to qualify for additional assistance. In December, the IMF withheld more than $1 billion in aid to country, saying the government had failed to control spending.
In a related development, there were isolated reports of looting late Thursday as poor and jobless residents ransacked supermarkets and other businesses. The disturbances triggered fears of renewed violence over the country’s economic problems.
