"There are objective conditions to decide"

Lavagna said to it to hours to meet with the IMF

NEW YORK. - The time runs and the minister of Economy, Roberto Lavagna, also. Therefore it at least demonstrated it yesterday, in an intense day by the streets of New York before starting off today for Washington to try that the International Monetary Fund (the IMF), the World Bank and the Inter-American Development Bank (I.A.D.B.) delay the next victories of the Argentine debt. "the objective conditions are given so that there is agreement", Lavagna said to the NATION.

"What we looked for it is to renew the victories that there are with the Bottom, the World Bank and the I.A.D.B.; nonnew bottoms ", added the minister, in the middle of the most varied meetings than they included representatives of North American and European commercial banks, World-wide the Jewish Congress and the local press. Sources of the Ministry of Economy emphasized that it is not predicted that this visit finishes with an integral agreement with the IMF, which, consider, would only take place once a negotiating mission of the Bottom travels to Buenos Aires. "the process has three stages - Lavagna explained; first a technical mission went to Argentina, now I come to speak with the Bottom and soon they will send a negotiating mission."

But the time matters: the 15 and the 17 of July Argentina must pay to the IMF 1000 million dollars and 700 million to the I.A.D.B.; if it does not do it, will altogether enter cessation of payments with these organisms, unless they delay the payment to him at least with the Bottom.

And although it was obtained, the way follows hill above: the victories this year and in 2003 add 18,000 million dollars; impossible task without an integral agreement with the Bottom. By the skepticism that flies over in Wall ßstreet in winch of Argentina, Lavagna has a hardest fight ahead, mainly if it considers that those victories of July - in theory they are not reprogrammable. "Good, but always there are forms of financial engineering so that they really autocancelen themselves" by means of a general refinanciación, the minister was abashed, trying to be optimistic. "we are not looking for fresh bottoms", reiterated.

- What will happen if Argentina does not obtain an extension of terms before the 15 of July?

- we did not find reasons objective so that it is not obtained. All the technical work is done.

In reaction to an article published yesterday by The New York Times, the minister rejected like "a triviality" the idea that the Argentine government is taking advantage of the present economic problems in other countries of Latin America ("as minister never would use an argument of that nature", said).

During shaken the 24 hours that happened in Manhattan - with an exhausting heat and fortísimos summery showers -, Lavagna maintained different encounter. Neither or it arrived at his hotel in the Midtown went to receive it the vice-president of the Citigroup, William Rhodes, who ratified to him that the bank will not go away of the country.

"We had a very positive interchange of opinions", was the commentary of Rhodes after the meeting with Lavagna and its secretary of Finances, Guillermo Nielsen.

Rhodes accepted the decree 905, that gives rise to the exchange of deposits reprogramados by bonds, but it refused to describe the mechanism like successful, since is only starting up it.

At noon Lavagna was transferred to a restaurant of the Midtown to eat for lunch with authorities of World-wide the Jewish Congress and their representatives in the United States. In the encounter Esteban Caselli, ordered of Cultural Subjects participated to the diplomat.

"a great disposition of the Jewish community was expressed to support to Argentina and a group of industralists even was arranged to speak with the people of the Bottom so that an agreement is obtained the sooner", Caselli said to the NATION.

After an interview with the Cnn, the minister met with representatives of the banks Santander, Fleet-Boston, Bilbao Biscay, HSBC and Citibank. "All these banks know a clearly commitment of medium term in Argentina", pointed Lavagna, to explain that no of them will leave the country.

In Economy they admitted that the banks expressed preoccupation by the mechanism yesterday to write down in their balance the bond of compensation by the pesificación of debts, that will be known in the next hours.