IMF blocks loan to Argentina

ARGENTINA - The International Monetary Fund has disappointed Argentina by effectively blocking a $1.3bn loan payment.

The IMF said it could not hand over the loan because it had been unable to complete a necessary review.

The move is a major blow for the country's beleaguered Economy Minister, Domingo Cavallo. It also revives fears that Argentina could default on its massive debt of $132bn.

The news came after the IMF's 24-member executive board met informally to hear a report from the head of a

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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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