The Mudcat Café TM
Thread #47402   Message #723972
Posted By: Steve in Idaho
05-Jun-02 - 09:26 PM
Thread Name: BS: Argentina - staying alive
Subject: RE: BS: Argentina - staying alive
And this from the 05 June Pinkerton Daily Intelligence summary

ARGENTINA (Moderate Risk) – Some Progress But Situation Remains Volatile President Duhalde has made over the past week considerable progress toward meeting International Monetary Fund (IMF) conditions for negotiating a new economic assistance agreement, including the repeal of controversial legislation and the signing of an agreement with the Governor of Buenos Aires province to reduce provincial spending by 50 percent. Similar agreements with other governors are likely to be signed soon. Duhalde is now hopeful that an agreement with the IMF can be signed by the end of the month. PERSPECTIVE: The progress cited above notwithstanding, Duhalde is still a long way from meeting IMF conditions for a new agreement, and the political and social situation remains highly volatile. The economy continues to deteriorate and statistically some 24,000 Argentines fall below the poverty line each day. The country's football-mad public is presently distracted by the ongoing World Cup in Korea, but the down side is that a poor performance by the Argentine national team and elimination from championship contention has in the past led to rioting in the streets and in the current economic and social crisis could set off renewed major rioting and looting, similar to the December rioting that prompted the resignation of former President de la Rua. If and when Argentina does reach a new agreement with the IMF, thereby stabilizing the economic scene, Duhalde and the Peronists may then decide the time is right for calling new national elections. (06/05/02)

Hang in there Bro

Steve