WASHINGTON The International Monetary Fund will soon set a date for an envoy to travel to Buenos Aires to negotiate new loans, a spokesman for the Argentine Finance Ministry said here Thursday.

After a working breakfast with Anoop Singh, IMF special operations director, Argentine Finance Minister Roberto Lavagna met with U.S. Treasury Secretary Paul O'Neill and his Undersecretary for International Affairs John Taylor.

Lavagna's spokesman characterized both of those meetings, as well as later talks with IMF Deputy Managing Director Anne Kreuger as "very positive," emphasizing that "progress was made." Lavagna hopes to convince the IMF to disburse a $9.5 billion loan to prevent Argentina's crisis from further spilling over into neighboring countries, AFP reported.

He also seeks approval of an $18 billion "stand-by" loan.

The Argentine government has already put in place measures demanded by the IMF, including the repeal of a controversial economic subversion law -- a measure that led to former president Raul Alfonsin resigning his senate seat in disgust.

But IMF Director Horst Koehler told a German newspaper that he was "disappointed" by Argentina's apparent foot-dragging in the restructuring of its banking sector.