State asks IMF for more time for sell-off plan

30 Sep 2005

The Paraguayan government has asked the International Monetary Fund (IMF) to extend an economic agreement which is set to expire today, so as to give the country more time to formulate a new privatisation plan for its state-owned industry assets. National PTO Copaco is among four companies due for a pre-privatisation audit early next year and the government is hoping the IMF will agree to a two-month extension to its current agreement to lay the foundations for a further three-year contract.

Paraguay, Copaco