At the same time, it is also authorized Ministry of Economy to make partial payments of the debt services owed to the creditor countries in the Paris Club, in an amount equivalent to that made within the framework of other bilateral commitments in third states, “respecting the proportionality in the payment between the creditors grouped in the Paris Bulletin, without prejudice to what is established”. The annex found in the same Bulletin also specifies the currency in which the payments will be made, most of them in dollars.
Lastly, the Head of the Cabinet of Ministers commanded by Juan Manzur is empowered “to make the pertinent budgetary modifications to comply with the provisions of this decree.”
The objective of the Government is to reach a renegotiation “before June 30, 2022” – a deadline set in the last visit of the Minister of Economy to Paris, in which new conditions of interest rates, terms and incorporation of US $ 430 are included million already paid in two payments as capital in February 2022 and July 2021.
The date of September 30, 2024 is due to an agreement between both parties, knowing that the Extended Facilities agreement signed with the IMF grants that date as the maximum term.
Argentina had to face on May 31, 2021 a payment of close to US$2.45 billion – corresponding to 40 credits granted by 14 countries and in 8 different currencies – under the terms of the Agreement signed in 2014, which contemplated a grace period of 60 days. However, on June 22, 2021, Guzmán announced that he had reached an understanding with the Club to avoid falling into default and continue with the negotiation. This DNU extends the term of the agreement to comply with the legal conditions that DNU 412/2021 itself (where the aforementioned was made official) had set.
Source: Ambito
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