Nestor unbound

摘要

Open up the heart of any senior official at the International Monetary Fund-yes, they do have them-and you will likely find it engraved with the word "Argentina". No country has given more grief to the world's lender of last resort. And arguably nowhere has the imf made more costly mistakes. So when, on December 15th, Nestor Kirchner, Argentina's president, announced that his government would this month repay its entire $9.8 billion debt to the Fund, the reaction in Buenos Aires was euphoric applause-and that of imf officials presumably one of relief.