Amadeusz Juskowiak

Argentine debt negotiator confident of accord

Argentinas chief debt negotiator said he was confident of a prompt accord with international creditor banks for rescheduling the countrys foreign debt

Im quite optimistic about carrying out a serious and quick negotiation Treasury Secretary Mario Brodersohn said on return from talks in New York with leading US and world financial officials

Argentina is currently negotiating terms with the steering committee for its creditor banks that will allow it to meet four pct economic growth targets in 1987 It has also asked for a reduction in interest rates and fresh credit

Brodersohn said the growth targets were not negotiable but Argentina did not want to follow Brazil in suspending payments on its foreign debt

He said Argentina was seeking 215 billion dlrs credit to meet the targets adding that the banks attitude had improved following Brazils decision

The United States and a group of other industrial nations on Thursday granted Argentina a 500 mln dlr bridge loan

Brodersohn held talks in New York with US Treasury Secretary James Baker Federal Reserve chief Paul Volcker and International Monetary Fund IMF head Michel Camdessus