Wednesday, March 9, 2011

Argentina .- Argentina would meet in June with the Paris Club to negotiate debt

BUENOS AIRES, Mar. 9 (Reuters) - Argentina could meet in June with members of the Paris Club to negotiate a debt of close to 9,000 million dollars (6.484 million euros), announced on Tuesday Minister of Economy, Amado Boudou. Argentina, which carries the debt from default monumental announced in 2002, is seeking an agreement to have easier access to international credit markets, but negotiations have been protracted over the years.

"In June we will be back in Paris with meetings of the G-20, perhaps we also have a meeting on the Paris Club," Boudou said in remarks to the local chain C5N. Last weekend, local daily 'The Nation' reported that the creditor countries disagreed with the offer made by Argentina and that negotiations were locked, but no identifiable sources cited.

But Boudou denied that there are now bidding on foot. "There is no bidding. We are reconciling the numbers and discussing what would be a payment plan. Indeed, there are discussions on the payment plan," he explained. "We think we are on track, there is much dialogue (...) but we will not close any operation which is not favorable for the growth of Argentina," he added.

Argentina is still far from voluntary credit markets since the suspension of payment of a debt of 100,000 million dollars (72.068 million euros) during the severe economic and financial crisis experienced in 2001 and 2002.

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