Argentina defaults on IADB loan

Argentina said on Wednesday it could not repay a loan to the Inter-American Development Bank on time, adding the Washington-based multilateral lender to the growing list of institutions to which it has defaulted.

But the government said the failure to make the $680m payment arose because of technical problems with transferring the money and signalled it was continuing negotiations with the International Monetary Fund.

The IADB said Roberto Lavagna, Argentine finance minister, had assured it th