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3,800 | <s>[INST] The government cut its 1998 growth forecast [/INST] from 5.3 per cent to 4.8 per cent earlier this month. </s> |
3,801 | <s>[INST] "Credit conditions have been very tight, [/INST] but things started to improve in October," said Mr Guidotti. </s> |
3,802 | <s>[INST] "Very shortly we will see credit reappearing for [/INST] companies - the private sector will be issuing bonds by the first quarter". </s> |
3,803 | <s>[INST] To avoid "crowding out" private sector borrowers, Argentina had [/INST] no immediate plans to launch a bond offering on the scale of last week's $1bn global issue. </s> |
3,804 | <s>[INST] The economic slowdown has led to lower-than-forecast tax revenues, [/INST] leading the government to cut spending and bring forward income and wealth tax payments for some individuals. </s> |
3,805 | <s>[INST] Despite the difficulties, Argentina would still meet its [/INST] fiscal deficit target of about 1 per cent of GDP, said Mr Guidotti. </s> |
3,806 | <s>[INST] The government, which aims to auction a 14.9 per cent stake in the privatised energy concern [/INST] YPF in January, "would not oppose" changes in the company's statutes, which require anyone owning 15 per cent or more of YPF to tender for all the outstanding shares. </s> |
3,807 | <s>[INST] ___ Document 588 of 600 $3bn Argentine loans agreed: World Bank [/INST] seeks to safeguard 'social and economic achievements' Author: Warn, Ken Publication info: Financial Times [London (UK)] 12 Nov 1998: 07. </s> |
3,808 | <s>[INST] accountid=28034 Abstract: The World Bank has approved $3bn in emergency [/INST] loans "to safeguard Argentina's social and economic achievements" in the face of the continuing international financial uncertainty. </s> |
3,809 | <s>[INST] A $2.5bn special structural adjustment loan is aimed at boosting confidence in [/INST] the banking system, developing the local capital markets, and expanding access to credit, especially for small and medium-sized businesses, the World Bank said. </s> |
3,810 | <s>[INST] A separate $500m special repurchase facility is [/INST] intended to back the liquidity of the financial system and bolster its defences. </s> |
3,811 | <s>[INST] Both loans, unveiled on Tuesday night, were precautionary, the Bank said, and [/INST] part of wider efforts with the International Monetary Fund and Inter-American Development Bank to soften the impact of the market crisis on Argentina. </s> |
3,812 | <s>[INST] Full text: The World Bank has approved $3bn in emergency [/INST] loans "to safeguard Argentina's social and economic achievements" in the face of the continuing international financial uncertainty. </s> |
3,813 | <s>[INST] A $2.5bn special structural adjustment loan is aimed at boosting confidence in [/INST] the banking system, developing the local capital markets, and expanding access to credit, especially for small and medium-sized businesses, the World Bank said. </s> |
3,814 | <s>[INST] A separate $500m special repurchase facility is [/INST] intended to back the liquidity of the financial system and bolster its defences. </s> |
3,815 | <s>[INST] Both loans, unveiled on Tuesday night, were precautionary, the Bank said, and [/INST] part of wider efforts with the International Monetary Fund and Inter-American Development Bank to soften the impact of the market crisis on Argentina. </s> |
3,816 | <s>[INST] Since the renewed market instability which followed the Russian debt default in July, [/INST] Argentina has been seeking to assemble a multi- billion-dollar "war chest" of financing from the multilateral lenders and other sources, such as domestic financial institutions. </s> |
3,817 | <s>[INST] It has requested $2.5bn in [/INST] loans from the IADB, which are awaiting board approval. </s> |
3,818 | <s>[INST] A $2.8bn IMF extended fund facility, which [/INST] the government does not intend to draw down, was agreed early this year. </s> |
3,819 | <s>[INST] The country has also been a pioneer among emerging market [/INST] borrowers in securing renewed access to the international capital markets, issuing five sovereign bonds in the past four weeks. </s> |
3,820 | <s>[INST] However, Argentina's access to commercial [/INST] borrowing is likely to remain severely constrained. </s> |
3,821 | <s>[INST] "It's safe to assume that until the beginning of next year at the [/INST] earliest Argentina will be unable to issue bonds on the same scale as before," said Alberto Ades, Goldman Sachs emerging markets currency economist. </s> |
3,822 | <s>[INST] "They just can't launch a [/INST] single issue of, say, $1bn right now. </s> |
3,823 | <s>[INST] The country already faces a 1999 financing requirement of [/INST] about $14bn, while tax revenues are likely to fall below target because of the economic slowdown. </s> |
3,824 | <s>[INST] In its efforts to halt financial "contagion" [/INST] in Latin America, the World Bank continued to lavish praise on Argentina. </s> |
3,825 | <s>[INST] "As one of Latin America's most successful reformers, Argentina has achieved price stability, opened [/INST] its borders to trade, privatised public enterprises, restructured public administration, reformed the pension system and has started the process of restoring social services," it said. </s> |
3,826 | <s>[INST] "Argentina is now refocusing on investment in human capital, improved [/INST] regulation, modern financial market supervision, and quality public administration and governance," said Myrna Alexander, World Bank director for Argentina. </s> |
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