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Sunday, 26 January, 2003, 21:53 GMT
Duhalde rounds on 'scolding' IMF
Argentine President Eduardo Duhalde (photo by WEF)
Eduardo Duhalde:" We have no need to be used as an example"
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Argentine President Eduardo Duhalde has rounded on the International Monetary Fund, two days after receiving a bail-out package from the fund aimed at resolving the country's economic crisis.

Mr Duhalde, in an impassioned speech to world leaders, condemned IMF "scolding" of recession-hit countries over their policies.

Apparently there is protectionism that is good and another protectionism that is bad

Eduardo Duhalde, president, Argentina
"If we cannot be helped, please keep a respectful silence," Mr Duhalde said.

"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.

Supachai Panitchpakdi, director general, World Trade Organisation (photo by WEF)
Supachai Panitchpakdi: Farm support deadlock

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.



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