Experts from Mexico, Chile,Brazil, and the United States will help the Argentine government in the search for a solution to its deep social and economic crisis, officials said Tuesday.
The mission of the experts is to seek "international consensus"to facilitate the solution to the Argentine crisis and to reopen negotiations with the International Monetary Fund (IMF).
The expert's panel will include Brazilian Central Bank Chief Arminio Fraga, his Chilean counterpart Carlos Massad, the former governor of the Central Bank of Mexico, Miguel Mansera Aguayo, anda member of the US Treasury Department.
The mission, which will be coordinated by the president of the Inter-American Development Bank (IDB), Enrique Iglesias, also includes a representative from the Spanish government and an expert that participated in solution processes to the Indonesian crisis late in the 1990s.
The international experts will advise the administration of President Eduardo Duhalde in a technical proposal to restructure the battered financial system, the local newspaper the Clarin daily reported.
This task will include a clean-up of banks in difficulties, in order to prevent a collapse of financial institutions that could produce greater uncertainty among savers.
The mission will also investigate the adoption of mechanisms toend, in an orderly fashion, restrictions on bank deposit withdrawals.
The team will also work on the application of the de-dollarization of the economy, by which deposits in US dollars will be changed into pesos, the Argentine currency.
The idea of forming this team was recommended to the Argentine government by US President George W. Bush and IMF managing director Horst Koehler.
(Xinhua News Agency January 23, 2002)
