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| | Argentina Letter of Intent and Memorandum of Economic Policies, September 5, 2000 |
 | | The attached policy memorandum and annexes update the information contained in our letter of February 14, 2000, and describe the economic policies and objectives of the Government of Argentina for the period 2000–02, supported by the stand-by arrangement from the Fund in an amount equivalent to SDR 5,398.61 million approved on March 10, 2000. |
 | | These policies were outlined in the Memorandum of Economic Policies (MEP) attached to the letter of the Minister of the Economy and the President of the Central Bank of Argentina (BCRA), dated February 14, 2000, requesting the support of the Fund under the SBA. |
 | | The incipient economic recovery has not yet been reflected in the quality of banks’ assets, and nonperforming loans have increased somewhat further; net of provisions, however, they declined from 4.7 percent of total assets in December 1999 to 4.1 percent in June 2000. |
| www.imf.org /external/NP/LOI/2000/arg/02 (4046 words) |
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