November 28, 2014
Gov't ratifies Paris Club deal was reached with no IMF intervention
Cabinet Chief Jorge Capitanich has played down statements by IMF chief Christine Lagarde who considered the Argentina-Paris Club deal will allow the South American country to “normalise” its situation.
“Argentina has carried out an autonomous and independent negotiation (from the IMF), in virtue of its payment capacity,” the head of ministers said today during his daily brief to the press at the government house.
“It is part of Argentina’s attempt to normalise its situation. We hope that, first, it turns beneficial for them; and second that the country continues with such process,” Lagarde said while visiting the capital of Mozambique, Maputo, in Africa.
Ratifying his first statements after the news about the agreement that involves the payment of 9.7 billion dollars in five years to the country’s creditors at the Paris Club was confirmed, Capitanich affirmed the government pushed for the deal “to get more investments, more production and better conditions to create more jobs.”
Queried about the trials Argentina still faces in the International Center for Settlement of Investment Disputes (ICSID), Capitanich pointed out “26 out of 52 cases have already ended” and that the Cristina Fernández de Kirchner administration would seek now to “reactivate World Bank and Inter American Development Bank loans.”