The last IMF  2  BIS Review 20/2002  package in support of Argentina (September 2001), for example, contained specific provisions to this end. In the subsequent months, Fund officials publicly encouraged the Argentinean authorities to reach an agreement with private sector agents over debt-exchange operations. And in December 2001, the Fund suspended its loan programmes with the country.
Bob Rasche, now research director at the St. Louis Fed, and Harold Shapiro, later to be my university president at Michigan, were also junior professors at Penn and part of the team.