The Minister of Economy, Sergio Massa, advanced this Thursday in the negotiations with the Paris Club, during a meeting he held with its Secretary General, Emmanuel Moulin, also Secretary of the Treasury of France, which will allow him to renegotiate the debt for US$ 2.4 billion.
“The agreement is almost closed; there are very good prospects”expressed a source from the economic team to Télam.
The same source specified that “a trip to France is being scheduled for October 27 and 28” and remarked that “there are very good prospects for closing the agreement” with conditions proposed by Argentina.
Argentina negotiates a debt refinancing of US$2.4 billionthrough which it will try to extend terms and reduce the interest rate, which is currently 9%.
The source explained to Télam that the 9% annual interest rate that Argentina pays to the Club today includes a penalty for late payments in recent years, which could be lowered by the time the agreement is sealed in October.
Massa emerged exultant from the meeting that took place at the IMF facilities, in which he was accompanied by the Deputy Minister of Economy, Gabriel Rubinstein, the person in charge of the negotiations with the organisms and who carries the fine print of the agreement; the head of the INDEC, Marco Lavagna; the chief adviser Leonardo Madcur and the director of the Central Bank, Lysander Cleri.
The Argentine director before the IMF was also seen, Sergio Chodosaccompanying the delegation.
The meeting lasted a little less than an hour, and was to reconfirm and seal the approval of the previous work of the economic team, which has been working on the issues for weeks and was very optimistic after the end of the meeting.
Lastly, the key to moving forward in the negotiations was the approval of the second review of the current program with the IMFsince for the Paris Club it is a base condition (unwritten), to evaluate the performance and policies for the refinancing of Argentina’s debt with said multilateral organization
