July 25, 2014
Paris Club says will study Argentina's debt offer
The Paris Club said it would study an outline from Argentina for repaying the more than $9.5 billion it owes the group of creditor nations.
Argentina is eager to resolve the problem of its outstanding debt with the group in order to regain access to international capital markets from which it has been shut out since its 2002 default.
At a regular monthly meeting in Paris, the Paris Club's members discussed the general guidelines for repaying the debt, which Argentine Economy Minister Axel Kicillof laid out in Buenos Aires' first official communication with the group in years.
"The Paris Club creditors will study this proposal," its secretary general Clotilde L'Angevin told Reuters.
"It is, however, too early to provide any feedback or reaction to Argentina on this paper that was transmitted to creditors only yesterday (Tuesday) evening," she said.
With Buenos Aires signalling it wants to settle disputes with its creditors, Paris Club members have been eager to get a concrete proposal for the debt to be repaid over a period of time to be determined in negotiations.