August 23, 2014
Paris Club talks begin today
Economy Minister Axel Kicillof will resume talks with the Paris Club today, alongside Finance Secretary Pablo López, and former economy minister Hernán Lorenzino, who is now in charge of the country’s debt repayment efforts. They will discuss the payment of an estimated US$9.5 billion in debt owed to the group.
Government sources have disclosed that the negotiations will be difficult because the creditors want the International Monetary Fund (IMF) to monitor Argentina if it does not provide payment within 18 months. Argentina has offered a 10-year payment with bonds with no IMF involvement.