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Kirchner wants to be free from IMF

July 29, 2005 at 9:21 PM   |   Comments

BUENOS AIRES, July 29 (UPI) -- Argentine President Nestor Kirchner said Friday he does not want the country to be subject to the will of the International Monetary Fund.

He said Argentina, therefore, will pay off the $14 billion its owes.

"Because of our debt, the IMF wants to impose internal and external policies on us," La Nacion quoted Kirchner as saying in its online edition.

Argentina defaulted on more than $100 billion in foreign debt in December 2001, prompting its president to resign and producing widespread unemployment and economic malaise.

Since then the Argentine economy has rebounded as Kirchner negotiated a partial debt restructuring.

© 2005 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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