Argentina reaches deal with Paris Club on $2 billion debt

The Paris Club, which counts the United States, Japan and Germany among its members, last year gave Argentina more time to repay the debt, allowing Buenos Aires to negotiate a revamp of its program with the International Monetary Fund. Argentina sealed an agreement with the IMF earlier this year for a nearly $45 billion program to refinance a failed loan from 2018.

Argentina reached a deal for the payment of some $2 billion it owes the Paris Club of creditors, Argentina's Economy Minister Sergio Massa said on Friday.

"Today, Argentina successfully completed an agreement with the Paris Club to normalize relations between our country, our companies, and our workers with the countries of the European bloc," the minister said. The Paris Club, which counts the United States, Japan and Germany among its members, last year gave Argentina more time to repay the debt, allowing Buenos Aires to negotiate a revamp of its program with the International Monetary Fund.

Argentina sealed an agreement with the IMF earlier this year for a nearly $45 billion program to refinance a failed loan from 2018. Calls to the Paris Club were unanswered outside regular office hours.

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