Uruguay makes early repayment of IMF debt-source

[Judi Lynn]

Uruguay makes early repayment of IMF debt-source
Thu Mar 30, 2006 12:38 PM ET

WASHINGTON, March 30 (Reuters) - Uruguay has made an early repayment of all of its debt owed to the International Monetary Fund for 2006, a source confirmed on Thursday, making it the latest Latin American borrower to clear its IMF arrears.

The source said the payment was received on Wednesday and the government would officially confirm the move later on Thursday. According to the IMF Web site, Uruguay owed the IMF around $720 million this year.

Uruguay said that it would hold a joint news conference with a senior IMF official later on Thursday.

"I can't confirm it," IMF spokesman Thomas Dawson told a regular briefing for reporters when asked about the early repayment by Uruguay, which has rebounded from a 2002 financial crisis triggered by a default and run on banks in Argentina, its main trading partner.

"An early repayment of payments is hardly unusual and is management issue," he added, noting that any such move to clear debt owed for the year would have a "marginal" impact on IMF's income.
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[maddezmom]

1. duplicate topic

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=2198770