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Home >> Business
UPDATED: 10:07, December 22, 2005
Argentine president says to settle IMF debts at beginning of next year
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Argentina will clear its debt with the International Monetary Fund (IMF) on Jan. 2 next year, instead of the previously announced date of next Thursday, Argentine President Nestor Kirchner said on Wednesday.

"On Jan. 2, we will pay our IMF debt once and for all," Kirchner said at a public meeting, without giving any reason for the delay of the 9.81-billion-US dollar final payment.

Some officials said Argentina made the decision because its central bank intended to end the year without large changes in its bank account.

The central bank sent a 280-million-dollar IMF payment on Tuesday to comply with the last interest payment ahead of paying off all IMF debts.

The bank's reserves stood at 27.36 billion dollars on Tuesday night.

Source: Xinhua


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