Argentine president to visit Germany for support
Argentine President Nestor Kirchner is leaving for Germany on Monday for a five-day visit aimed at addressing the country's economy and seeking support for his country's controversial debt restructuring efforts.

The trip comes as the country's controversial debt swap has raised tensions with the International Monetary Fund (IMF) and angered some of the country's key European allies.

According to Argentine diplomatic officials, Kirchner will seek support from the German government in the Group of Seven (G-7) prior to the upcoming negotiation between the South American country and the IMF on a possible new aid agreement.

Kirchner is expected to hold meetings with German Chancellor Gerhard Schroeder, German President and ex-Director of the IMF Horst Kohler during his visit.

The visit will take Kirchner to Berlin, Wolfsburg and Munich, where he will meet with political and business leaders, officials of Argentina's Foreign Ministry said.

German officials have criticized Argentina's debt restructuring effort, but have mostly supported Kirchner's plan. A spokesperson of the German Embassy said Schroeder has always stood by Argentina, and this will be reiterated in the two leaders' meeting in Berlin.

Under the biggest debt restructuring plan in the country's history, Argentina offered its creditors new bonds worth about 33 cents for each dollar of its old bonds in an effort to end a three-year-long debt crisis. About 76 percent of the creditors have accepted the deal, but holders of about 20 billion US dollars of the debt have rejected it.

Argentina, the second-largest economy in South America, suspended payment on its public debt after the financial crisis erupted in late December 2001. Following the crisis, the government froze bank accounts and devalued the currency in a move which plunged nearly half the country into poverty.