Switzerland and the U.S. are getting closer to a deal on tax evasion after discussions on the sidelines of the International Monetary Fund spring meetings, Swiss Confederation President and Finance Minister Eveline Widmer-Schlumpf said Saturday.

Widmer-Schlumpf said there was good progress in talks with U.S. Treasury Secretary Timothy Geithner on tax transparency, although it was too soon to give details of the package.

"We will look into all options available to us," she told reporters. "U.S. taxpayer money in our banks should be identifiable ... we cannot give details until the package is finalized."

In the absence of an agreement, U.S. authorities have started to target individual banks, investigating alleged assistance in helping Americans evade taxes at 11 Swiss banks, including Julius Baer Group AG (JBAXY), Switzerland's largest private bank, and Credit Suisse Group AG (CS, CSGN.VX).

Widmer-Schlumpf said the country will seek out an initial deal for these banks. "Switzerland made constructive suggestions, on a political level... the situation is better than months ago, we'll see what emerges," she said.

She also said it was in the country's interests to help boost IMF funds.

"Looking at situation in the global economy and financial markets, this need stabilize," said Widmer-Schlumpf. "It's in our interest that this situation stabilizes, and that's why we contributed."

She added that there is "very strict conditionality" for calling on the finds, and that they will revert to Switzerland in four years if not used.

- By Frances Robinson, Dow Jones Newswires; +32 2 741 1486; frances.robinson@dowjones.com

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