Finance Minister Amado Boudou met with International Monetary Fund (IMF) managing director Dominique Strauss-Kahn to define the conditions in which the organization would monitor the country's economy, as part of the come-back strategy for Argentina into the credit markets. After the 45 minute meeting, the Finance Minister said the conversation had been "formal and very friendly".

"We are looking into credit markets. We have different options but none would mean a change of policy in Argentina's economy," Boudou said before the meeting. "Credit markets are a way of propping up the internal market. This is what we are working on," he added.

Strauss-Kahn and Boudou met at 3pm (9am in Argentina) in the Convention Center in Istanbul, where the IMF and the World Bank's Annual Assembly is taking place. "There will be no deal today," Boudou said just before entering the Convention Center, in Istanbul.

However, expectations are really high, as Boudou and Strauss-Kahn are trying finish defining the conditions in which the IMF and Argentina will work together, under article IV of the organization's status.

Last time Argentina fulfilled the requisite was in 2006, after it paid back its debt with the IMF. The government would like the monitoring to be purely technical, without any interference with the economy policy the country is following.

Yesterday, Argentine Central Bank governor met with Strauss-Kahn to define and negotiate possible interest rates.

• Boudou, Redrado tackle IMF officials