MercoPress. South Atlantic News Agency

More time for Duhalde

More exhausted than convinced Argentine president Eduardo Duhalde announced that the long overnight talks with the provincial governors had resulted in a fourteen points program to be implemented in the next three months.

The agreement full of good intentions and not many details, basically underlines Argentina's intention to honor international agreements and to find a joint solution to the current woes facing the economy and a virtually collapsed banking system that has immobilized all financial activities and turned a furious population against the political establishment.

No mention was made of possible new cabinet members following the resignation of Economy minister Jorge Remes Lenicov who according to his own words "lost credibility" when Congress refused to vote a bill converting bank deposits and savings into long term bonds. Mr. Remes Lenicov had focused all his attempts to recover the Argentine economy in a strong aid package from the International Monetary Fund, which so far has not materialized and has eroded his standing and reputation.

Provincial governors, the true barons of Argentine politics and President Duhalde's support, have consistently refused to accept further cuts and reforms in their turfs, --most of them broke ? as has been suggested by the IMF and promised by the Duhalde administration.

Among the fourteen points is the promise to achieve in fifteen days time a definitive agreement regarding savings and revenue sharing between the central government and the provinces, one of the main stumbling blocks for any possible aid, and fiscal and monetary policies to prevent inflation and devaluation, and setting foundations for a "strong and reliable financial system".