31.   The danger of a debt default by Argentina has already been felt throughout Latin America with steep losses in stock markets and fluctuations in exchange rates.

32.   The loans are supposed to help revive the economy and encourage consumer consumption and foreign investment, long scared off by the possibility of a debt default.

33.   The report said that stabilizing the currency, and the related problems of restructuring the banks and avoiding widespread corporate debt default, are the economic challenges facing Indonesia.

34.   The U.S. dollar was trading sharply higher than previous-day levels in Tokyo Tuesday, boosted by the easing fears of a U.S. debt default.

35.   Worries about a potential debt default in neighboring Argentina also contributed to the selling.

36.   With fears of a possible debt default gaining momentum in recent days, Argentine bonds have tumbled to their lowest levels in six years on some markets.

37.   Yet despite the pain, the economy remains in crisis and the specter of a debt default looms.

38.   Argentine President Adolfo Rodriguez Saa was to hear the first face-to-face foreign reaction Thursday to his plan for a new currency and the biggest debt default ever.

39.   But overseas markets, which saw the debt default coming for months, reacted calmly.

40.   While the debt default had little impact on overseas investors, who had foreseen the calamity for months, the debt markets recoiled even further from Argentina.