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| Sunday, 26 January, 2003, 21:53 GMT Duhalde rounds on 'scolding' IMF ![]() Eduardo Duhalde:" We have no need to be used as an example"
Mr Duhalde, in an impassioned speech to world leaders, condemned IMF "scolding" of recession-hit countries over their policies.
"We are important countries, we have our own history. "We have no need to be used as an example of what should not be done." He added: "I would not be truthful if I told you that I am happy with the way the IMF has treated us." Temporary fix The comments came amid a debate on globalisation at the World Economic Forum's annual summit, in Davos Switzerland.
And they follow the agreement on Friday of a package aimed at reviving prosperity in Argentina, which last year defaulted on loans, after suffering recession and a currency slide. Mr Duhalde met IMF deputy managing director Anne Krueger face to face for the first time in Davos, after months of telephone negotiations leading up to the bailout, which saw unpaid debts rolled over, and $2.9bn of new cash invested. Mr Kreuger on Saturday stressed that the deal was designed to tide Argentina over until after spring presidential elections, after which the fund would raise a "long list of issues which need to be addressed". Mr Duhalde has said he would not stand for re-election. Farm support slammed Mr Duhalde blamed Argentina's economic plight in part on "unfair" systems of trade barriers, which see developed nations protect some of their own domestic markets while calling for developing nations to lower tariffs. "Apparently there is protectionism that is good and another protectionism that is bad," he said. Richer nations have been condemned in particular for protecting agriculture markets, with the European Union's farm support programme attacked by delegates on Sunday. Supachai Panitchpakdi, head of the World Trade Organisation, warned in a separate debate that attempts to cut farm support and freeing global food trade were floundering on differences between nations. "Countries still stand far apart on agriculture, but at least the movements are in the same direction," Mr Panitchpakdi said. South African Trade Minister Alec Erwin condemned farm support as a "key logjam" in the global economic system. |
See also: 24 Jan 03 | Business 17 Jan 03 | Business 21 Nov 02 | Business Internet links: The BBC is not responsible for the content of external internet sites Top Business stories now: Links to more Business stories are at the foot of the page. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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