Obama Adviser Suggests Argentina Won't Get IMF Money -Report
Mon, Apr 20 2009, 16:19 GMT
http://www.djnewswires.com/eu
BUENOS AIRES -(Dow Jones)- Larry Summers, U.S. President Barack Obama's top economic adviser, indicated that Argentina will not be eligible to access a new line of credit from the International Monetary Fund, the newspaper Clarin reported Sunday.
A new line of credit offered by the IMF is aimed at countries whose "fundamentals [economic foundations] are strong and whose problems are more a result of the global economic crisis than of local decisions," Summers was quoted as saying.
Argentina has been pushing the IMF to lend it money without strings attached. Analysts here said Argentina will have trouble getting more funds because of a refusal to reform the highly questioned National Institute of Statistics and Censuses, or Indec, which is accused of falsifying economic data.
Clarin noted that the U.S. Treasury Department recently said some of Argentina's economic problems were caused by bad government decisions unrelated to the global crisis.
-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com
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(END) Dow Jones Newswires
April 20, 2009 12:19 ET (16:19 GMT)
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