US treasury secretary to visit Argentina, Brazil in July

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Last updated at: (Beijing Time) Saturday, July 13, 2002

US treasury secretary to visit Argentina, Brazil in July

US Treasury Secretary Paul O'Neill will visit Brazil and Argentina late in July, the Brazilian Treasury Department said in a communique released on Friday.

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US Treasury Secretary Paul O'Neill will visit Brazil and Argentina late in July, the Brazilian Treasury Department said in a communique released on Friday.

O'Neill is expected to meet leaders of the two countries and visit businesses, schools, health clinics, infrastructural projects and grass-roots organizations during his trip, it said.

The visit, his first to both countries since US President George W. Bush took office in January 2001, comes at a time when Argentina is looking forward to an agreement on financial aid withthe International Monetary Fund (IMF) to get out of its worst economic crisis in history.

O'Neill has repeatedly called on Buenos Aires to work with the IMF to formulate a sustainable economic program.

Brazilian economic policies have won strong backing from the IMF and the US treasury secretary.

"We are in full support of their efforts and intentions," O'Neill said in a statement after meeting this week with Brazilian central bank governor Arminio Fraga.

The US official is currently on a tour of Central Asia.

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