Argentina signs agreements with seven Paris Club member countries

The agreement signed with representatives of Germany, the Netherlands, Canada, Israel, Finland, Denmark and Austria opens possibilities for bilateral financing of infrastructure projects and export promotion, according to the Economy Ministry. Recovery of economic stability, added the statement of the economic portfolio. The agreements are part of the extensive negotiations that the Government develops with the group of creditor countries, in which the payment of obligations is expected to end in 2028.At the end of October last year, the Paris Club reached an agreement with the Argentine Government to reschedule the debt that the country has with the forum of creditor countries, that it will have a payment term of six years and a reduction in the interest applied. The understanding sought to solve the interruption of payments that had been resolved in 2019 by the management of Mauricio Macri after the breach of the maturity program provided for in the previous agreement. The new agreement – sealed last October – was based on the one signed in 2014, but extends the payment in thirteen semi-annual installments starting in December of this year and ending in September 2028.Last Thursday, during the trip of President Alberto Fernández to Washington, Massa held a meeting with the Undersecretary of Economic Development, Energy and Environment, José W. Fernández. There he signed the bilateral agreement with the United States after the refinancing of the debt that Argentina maintains with the creditor countries of the Paris Club.In this regard, the Ministry of Economy reported that, “with the signing of the Paris Club agreement, restrictions are lifted to access foreign trade credit from the United States for the Argentine private sector.” “With the aim of continuing to organize and regularize international financial relations and continuing the path we began in October of last year when we signed the general agreement with the Paris Club, today we signed a specific bilateral agreement with the United States,” the head of the Economy Ministry said in a statement.

Original source in Spanish