IMF on Argentina: 'progress has been made'

IMF Managing Director Horst Kohler said on 9 January he is to recommend to the Executive Board the Letter of Intent of the authorities for the First Review of the Stand-By Arrangement with Argentina.

Mr. Horst Kohler, Managing Director of the International Monetary Fund (IMF), today (9 January) made the following announcement:

"Progress has been made in recent days and understandings have been reached with the Argentine authorities on a letter of intent requesting the completion of the first pr