Argentina avoids new IMF debt default

Argentina's government made a $3.15 billion payment to the International Monetary Fund on Tuesday 9 March, averting a new debt default with the Fund.

A government source, Reuters reported, said on Tuesday that acting IMF head Anne Krueger told President Nestor Kirchner she will recommend the lender's board approve a second review of a $13.3 billion (7.3 billion pounds) loan deal to keep funds flowing to Latin America's No.3 economy.

IMF sources said Krueger would submit the review to the board

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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