Argentina To Repay $9B To Paris Club

Argentina is set to repay nearly $9 billion in defaulted debt to the Paris Club of sovereign creditors.

Argentina is set to repay nearly $9 billion in defaulted debt to the Paris Club of sovereign creditors, The Wall Street Journal reports, citing Pagina 12. The repayment amount includes unpaid principal on loans as well as interest and penalties accrued after Argentina defaulted on its debts with private and sovereign creditors in 2001. Argentina owed $6.87 billion in principal and interest at the end of 2009, most of which is owed to Germany, Italy, Japan, the U.S. and the Netherlands. The Argentinean government will also try to extend the repayment period to five or six years from the 18 months the creditors requested.

Click here for the story from The Wall Street Journal.