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Argentina expects inflation to decline { September 22 2003 } Original Source Link: (May no longer be active)    http://www.nytimes.com/2003/09/22/business/worldbusiness/22ARGE.html http://www.nytimes.com/2003/09/22/business/worldbusiness/22ARGE.html September 22, 2003 Argentina Expects Inflation to Decline By BLOOMBERG NEWS Argentina said yesterday that it expected its economy to grow 4 percent annually from 2004 to 2006, while the inflation rate would be no more than 7 percent in 2006 compared with a maximum 11 percent next year. The board of the International Monetary Fund voted Saturday to approve a three-year loan accord with Argentina, part of a $21 billion pledge from lenders to help the country recover after the biggest sovereign default in history. The forecasts were written in the letter of intent for the loan accord with the I.M.F. Argentina will announce a plan today to reschedule payments on $95 billion in bonds. Economic growth this year is projected to be 5.5 percent. On Saturday, Roberto Lavagna, the economy minister, said recent data signaled that growth might be at least 6.5 percent in 2003. Mr. Lavagna said in an interview yesterday at the I.M.F. and World Bank annual meetings in Dubai that the amount of loans made by the country's banks was climbing for the first time since the country's default in late 2001. "In August and September, there has been a net increase in the amount of new credits," Mr. Lavagna said. International banks in Argentina lost at least $11 billion last year after the country's default and subsequent devaluation. "Up to now, there had been more repayments to the system than new loans," Mr. Lavagna said. "The problem isn't the interest rates, but rather a rationing of loans by banks. They are only starting to lend." Copyright 2003 The New York Times Company

Argentina economic fall { August 3 2003 } Argentina expects inflation to decline { September 22 2003 } Argentina may default on 3b imf debt Argentina poverty { August 6 2002 } Brazil raises interest rates to highest in world Brazilian new low { September 24 2002 } Imf director faces issues in argentina Imf policy promoted poverty in argentina { December 15 2005 } Latin amer collapse { August 1 2002 } Latin american looks to fill asian demand Files Listed: 10

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