Government to postpone payments to Paris Club until renegotiating a new agreement with a deadline of 2024

The government agreed to paris club defer repayment of the US $ 2,000 million debt until a new understanding is discussed with such lenders or, otherwise, until September 30, 2024. The new extension of the term is formally to a DNU which will soon be published, according to official sources.

The Minister of Economy, Martín Guzmán, spoke in March with the authorities of the Paris Club in France to extend until June this year the current scheme. Today, after the approval of the agreement with the IMF on March 25, the institution based in the French capital endorsed new deferral of payments.

“Once the Extended Facilities Agreement was reached with the IMF for the cancellation of the 2018 Stand By, PEN continued to conduct negotiations with lenders grouped with the Paris Club, in the pursuit of maintaining public debt in Argentinacompatible with the recovery of the productive economy and improvement of key social indicators, ”official sources said.

In this framework, this new DNU was promoted whereby “the deferment of payments of debts contracted under the validity of the signed Bilateral Agreements is provided, until a new framework agreement is reached and the adequacy of bilateral agreements signed as a result., or on September 30, 2024, who will be the first to trade“.

Under the program agreed with the Fund, the Government predicts payments to the Paris Club for a total of $ 760 million by 2022 (US $ 190 million at the end of March, June, September and December).

Now, according to official sources, it will be discussed a new payment term and disbursement schedule, plus a new interest rate.

Development news.

DS