Argentina Prepares Paris Club Proposal

Argentina is hoping to settle its $6.3 billion outstanding debt with the Paris Club group of lenders by 2015, according to reports in Argentina’s Ambito Financiero. The Club lenders are Spain, Germany, Italy, Canada, Japan, Netherlands, Switzerland and the US. The newspaper said that economy minister Felisa Miceli is preparing a proposal for the Club for the beginning of December but has asked IMF president Rodrigo de Rato to talk the lenders into allowing Argentina to repay Spain ahead of that deadline. Spain and Argentina recently agreed a repayment schedule of 2008-2012.