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Treasury Secretary Paul O'Neill made the following statement today on Argentina:
Argentina is an important friend and ally of the United States.
We have been very concerned about the difficult circumstances now facing the people of Argentina.
We are encouraged that the Argentine Government is taking substantive steps to address its economic problems, and hope that it will now accelerate its work with the IMF to formulate a sustainable economic program, including an appropriate budget.
The United States also welcomes recently announced initiatives of the World Bank and Inter-American Development Bank to implement programs to address social safety net issues in Argentina.
We remain prepared to support, through the international financial institutions, a sustainable plan for economic recovery in Argentina.