The refinanced Paris Club debt represents a total of 9.69 billion dollars, including interest and penalties. This breaks down to a figure of 4.95 billion dollars, plus an extra US$1.1bn in interest and US$3.63bn in punitive costs.

Monday, July 28, 2014

First payment made to Paris Club creditors

The Economy Ministry today revealed that Argentina had completed a payment of 642 million dollars to the group of creditor nations that form the Paris Club, a sum representing the first installment due on the debt owed by the country. 

The payment is the first made since the agreement struck on May 29, when Argentina completed negotiations with the Paris Club over bonds defaulted on in 2001. 

While Economy minister Axel Kicillof prepares to leave Buenos Aires for Venezuela, where he will attend the Mercosur summit, the department further published details of the final agreement. 

The refinanced Paris Club debt represents a total of 9.69 billion dollars, including interest and penalties. This breaks down to a figure of 4.95 billion dollars, plus an extra US$1.1bn in interest and US$3.63bn in punitive costs.