Argentina Agrees Debt Repayment With Spain

Argentina and Spain are to sign an agreement by the start of December setting out the repayment of Argentina’s $960 million debt to Spain. According to Spain, the Latin American nation will repay the debt by 2012. The debt forms part of the $6.5 billion still outstanding to the Paris Club group of lenders. The announcement of the forthcoming agreement was made at the Ibero-American Summit held in Uruguay following meetings between the two countries.