Argentine Media Reports Happily on IMF's Distress

May 6 (EIRNS)--Argentina's daily "Pagina 12" reports today that the IMF's financial situation is so bad, that a memo is circulating from its Finance office warning "with some urgency" of the need to find "a new mechanism for financing" the institution. The IMF deficit is now estimated at $1 billion.

Argentina under President Nestor Kirchner went to the mat against the IMF and the vulture funds, and succeeded in imposing a unilateral 65% write-down of the country's public debt in 2005. Now, according to a Knack consulting firm poll covered by the Argentine press agency Telam, 71% of Argentines feel either "optimistic" or "very optimistic" about the performance of the national economy.