Argentina pays down 680 mln US$ World Bank debt

ARGENTINA - The government paid down yesterday a 680 mln US$ instalment on a World Bank loan from central bank reserves, the economy minister Roberto Lavagna, said.

Newspaper Clarin said the funds came from a 4 bln US$ tranche of a financial package granted by the IMF in Dec 2000 which was added to the central bank's reserves.

At the same time, the Inter-American Development Bank agreed to provide 694.2 mln US$ to fund social projects, while the Italian government granted a loan of 75 mln eur,