Argentina, Switzerland ink bilateral deal tied to Paris Club agreement

By Caroline Salls

Pittsburgh, Nov. 12 – Argentina economic minister Axel Kicillof signed a bilateral agreement with representatives of the government of Switzerland, the first bilateral deal signed in connection with an agreement between Argentina and the Paris Club, according to a news release.

The joint declaration signed by the member countries of the Paris Club established the general conditions of the refinancing of Argentina’s debt and served as the basis for bilateral agreements with each creditor country.

As a result, Argentina said it is continuing the adjustment of international debt stemming from a 2001 default.

According to the release, creditors have indicated that the clearance of arrears in the payment of sovereign debt is appropriate and conducive to enabling the normalization of the economic and financial implications of their relations with Argentina.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.