Argentina asked to postpone payment to the Paris Club for one year

The Government asked the Paris Club to extend for a year the payment of US $ 2.1 billion that is due in May, according to the document presented before the United States National Securities Commission.

In a note presented by the Ministry of Economy before the North American organism last March 13, the Government also raised the possibility of a renegotiation of the agreement reached in 2014 with the Paris Club.

The note was presented to the US body because as a debt issuing country in that market it has an obligation to do so.

The letter addressed to the members of the Paris Club expresses “the decision of the Republic to postpone until May 5, 2021 the expiration of May 5, 2020, in accordance with the terms that the Republic reached with the members of the Club of Paris on May 29, 2014 “.

With the signature of the Minister of Economy, Martín Guzmán, the country had sent another letter, on April 7, requesting the modification of the agreement with the Paris Club “seeking mainly an extension of maturities and a significant reduction in interest rates “

The text sent to the US Securities Commission maintains that Argentina is in “constructive relations with the International Monetary Fund.”

It highlights the country’s intention to seek “a new program that will address the terms under which the debt incurred under the current Stand by program agreed in June 2018 would be replaced until the Republic can access the international debt markets at sustainable rates” .

The report adds information on the Argentine external debt, the most recent fiscal accounts and macroeconomic figures and the policies implemented by the Argentine government to face the Covid-19 crisis.

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