Kicillof said “there is progress in the negotiations with the Paris Club”
The Economy Minister Axel Kicillof described as “largely positive” meeting with the authorities of the Paris Club, a statement of the Economy Ministry, which raised hopes of an imminent exit of default by Argentina after the debacle in 2001.
Kicillof met more than an hour and a half with the head of the Paris Club, Ramon Fernandez, while the general secretary of the consortium of creditors, Clotilde Langevin said the Argentina presented “principles that could form the basis of negotiation for debt repayment to creditors. Negotiations are at an earlier stage to the filing of a formal offer,” Langevin said.
The Argentine government seeks to establish a payment schedule up to ten years with the group of creditors of the Paris Club to claim a debt of $ 9,500 million, most of Japan. The creditors claim that the International Monetary Fund ( IMF) monitor disbursements if more than 18 months period stipulated , sources cited by AFP said.
Cristina Kirchner’s government refuses to be subject to routine controls the IMF since January 2006 cancellation of all debt with the body in a single payment of 9,500 million. Argentina wants to close the chapter of “default”, declared in 2001 by almost 100,000 million, the largest in financial history.