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G7 to Push Argentina to Talk With IMF - Canada
Reuters 6/12/2002

OTTAWA (Reuters) - Finance ministers of the Group of Seven rich nations will assess Argentina's economy this weekend and are expected to encourage the South American country to push ahead with talks with the International Monetary Fund.

"They will probably offer a comment or a succinct summary of their views as to how to get negotiations going between the fund and Argentina," said a senior Canadian finance official.

"The negotiation of a fund program really is the key that unlocks a lot of other things that need to be done, in order to get Argentina back on speed to growing again."

Argentina, gripped by a recession and a botched currency devaluation, is desperate for billions of dollars in multilateral aid to help prop up a financial system that is near collapse.

Another Canadian official said the message to Argentina would be along the lines of: "Please co-operate with the IMF and develop a program."

"Until they have a program of their own, us throwing money at them isn't going to solve anything," he said.

Finance ministers from the G7 -- Britain, Canada, France, Germany, Italy, Japan and the United States -- will meet on June 14 and 15 in the eastern Canadian port city of Halifax with a formal agenda of fighting terrorism and combating world poverty.

The meeting will prepare for the June 26-27 meeting of the leaders of the Group of Eight, which includes Russia, at the Rocky Mountain resort of Kananaskis, Alberta.


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