IMF dilutes its role in int'l bankruptcy plan

US - The International Monetary Fund on Monday amended its proposal for developing a system to allow troubled countries to file for bankruptcy protection to give it a smaller role than creditors.

Last November the Washington-based lender made a groundbreaking proposal that if adopted would allow troubled countries like Argentina to restructure their debts in an orderly way without having to resort to a messy debt default.

But while the idea gathered wide support conceptually, there were many ob

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