Argentina yesterday appeared closer to winning increased international financial support to help allay global concerns that Latin America's third-largest economy would default on its $128 billion public debt.

US Treasury Undersecretary for International Affairs Mr John Taylor was due to fly to Argentina amid signs the debt-ridden country could succeed in speeding up and possibly boosting financial aid from the International Monetary Fund.

It was one of several signs that Argentina may not have to go it alone. In a key show of support, President Bush phoned President Fernando de la Rua on Wednesday to congratulate him on the passage of his "zero deficit" plan in Congress.