Camdessus Calls for "Second Generation" Of Reforms in Argentina

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Camdessus Calls for "Second Generation" Of Reforms in Argentina

Following are edited excerpts of an address by IMF Managing Director Michel Camdessus at the 1997 National Banks Convention in Buenos Aires on May 21.

Since the late 1980s, most countries in the region have undertaken programs of macroeconomic stabilization and structural reform. The problems in the region have been similar and the programs have had points in common, especially an emphasis on paring back state intervention to allow the market to allocate a majority of the resources and to give freer rein to the private secto...

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