13 July 2001, 08:24 IMF's Loser says unlikely Argentina will default on foreign debt
Brasilia, July 12 (AFP) - Claudio Loser, Western Hemisphere director
for the International Monetary Fund, said he thinks a default by Argentina
on its U.S. $128 billion foreign debt is unlikely. Draconian austerity
measures hurriedly unveiled by the cash-strapped Argentine government
failed to allay concerns that the government could default on its $130
billion debt, keeping downward pressure on other Latin American markets.
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