After having traveled to Washington, United States (USA), in the second week of October to close an agreement for the debt of 2,400 million dollars that Argentina has with the Paris Club, Sergio Massa today signed an agreement with Italy, which belongs to the multilateral entity, to refinance the aforementioned agreement with the Paris Club.
The Economy Minister, Massa, signed with the Italian ambassador, Fabrizio Lucentini, the first private agreement for the refinancing of the debt that our country has with the group to which Italy belongs. They also participated in the signing of the document along with Sergio Massa, the head of INDEC, Marco Lavagna; the chief adviser Ministry of Economy, Leonardo Madcur; the Undersecretary of Finance, Nicolás Segal; and the counselor of the Italian embassy, Marco Leone.
Argentina committed itself, through the signing of the document by Sergio Massato make payments from December of the current year to September 2028 in the original currencies of each lender. The Paris Club reported through a press release that “the scheme offers a framework for a sustainable solution to the issue of the arrears owed by Argentina.”
In addition, including the International Monetary Fund, the Paris Club, expressed in the statement that this agreement is consequent to “the financing guarantees provided by Paris Club creditors on March 21, 2022 to support IMF approval of an extended facility agreement.”
Countries in round of negotiations
In the round of negotiations between the Argentine Economy Minister and the Paris Club, representatives of the following countries also participated: Austria, Belgium, Canada, Denmark, Finland, France, Germany, Israel, Italy, Japan, the Netherlands, Spain, Sweden, Switzerland, the United States, and the United States of America.
It was also communicated from the European entity that “the agreement reached is consistent with the parameters of the IMF program with respect to long-term debt sustainability.” In turn, the former Minister of Economy, Martín Guzmán assured that he had made progress in an understanding with the technical team of the Paris Club.
