Argentina
Postpones Debt Payment for A Month, Wall Street Journal, January 17,
1984.
In early 1984
Argentina failed
to make a $350 million payment on their debt, declaring that they would resume
payments in a months’ time. The government assured banks that they will keep
up-to-date interest payments on the loans involved.
Argentina
had linked its debt repayment program to disbursements from the International
Monetary Fund. When the IMF suspended disbursements on their loan to
Argentina – a
result of
Argentina
failing to fully comply with the conditions that the IMF had imposed as terms
for receiving the loan –
Argentina lacked
the foreign exchange to meet the payments.
A new round of talks with the IMF quickly followed these
developments.
Peter Siegesmund