Argentina hopeful about IMF package

A spokesman for the Argentine economy ministry says that a crucial financial deal with the International Monetary Fund to help the country out of its current economic crisis is practically arranged, although the political will is still missing.

The spokesman, Alfredo Castanon, speaking in Buenos Aires, said that he felt the worst of the economic crisis was over, but asked the country to be patient as it waited for details of the new financial aid package.

Talks between the IMF and the Argentine government went on throughout last week, and are set to continue in Washington today Monday.

Argeninta is seeking additional IMF loans to shore up its reserves amid fears that the country may default on its huge foreign debt.

President Bush has pledged to help international moves to assist Argentina.

From the newsroom of the BBC World Service