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| Preface | |
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| Acknowledgments | |
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| Introduction: Setting the Stage | |
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| Focus on the Role of the Fund | |
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| An Essential Qualification | |
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| What Went Wrong in Argentina | |
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| An Unsustainable Fiscal Policy | |
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| The Fund and Fiscal Policy | |
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| Convertibility and Bust | |
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| Down the Road to Catastrophe | |
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| Options for the Fund and the International Community | |
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| Losing It | |
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| Chutzpah | |
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| Collapse | |
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| Looking Forward for Argentina | |
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| The Prudent Level of International Support | |
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| Bifurcated Conditionality | |
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| Requirements for Stabilization and Recovery | |
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| Lessons for the Fund | |
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| Tough Cop or Sympathetic Social Worker? | |
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| Improving the Fund's Accountability and Performance | |
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| The Role of Large Support Packages | |
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| The Fund Staff Analysis of Argentina's Sovereign Debt Dynamics | |
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| Index | |
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| Tables | |
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| Selected economic indicators for Argentina, 1993-98 | |
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| Payments due to the IMF from Argentina, 2002-06 | |
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| Argentina: Consolidated public sector debt dynamics | |
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| Figures | |
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| Real economic indicators for Argentina, 1960-91 | |
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| Real GDP growth for Argentina, 1964-2001 | |
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| Fiscal deficit and change in public debt | |
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| Real effective exchange rate, Argentina, 1980-2001 | |
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| Argentina's current account balance, 1980-2001 | |
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| Interest rate spreads on Argentine sovereign debt and the Emerging Markets Bond Index | |
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| Total bank deposits in Argentina, 1996-2001 | |
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| Foreign exchange reserves in Argentina, 1996-2001 | |