Argentina: Kirchner's Politically Popular IMF Payoff

Argentine President Nestor Kirchner announced plans Dec. 15 to pay off his country's $9.8 billion debt to the International Monetary Fund within the next 15 days. The announcement has raised concerns among investors who already fear the populist turn in Argentine economics. Kirchner, however, has made a sound political move in a country whose economic policies have long been questionable.