The Lower House of Congress began debating a bill to suspend the "Bolt Law" for two years, which could pave the way for a 20 billion dollar debt swap.

Pro-government lawmakers expect an easy approval of the suspension of the bill barring the government from reopening the swap, closed in 2005.

The government has described the renegotiation of the debt as a key step toward Argentina's return to credit markets, as major banks and financial institutions are pressing the Kirchner administration to normalize its payments, suspended after the 2001-2002 default.