Argentina to renegotiate Paris Club debt without IMF presence

(Dow Jones, Buenos Aries, 15 November 2010) Argentine President Cristina Fernandez announced that the Paris Club group of lender nations has agreed to negotiate some US$7.5 billion of Argentine debt without any kind of intervention from the International Monetary Fund. A large percentage of this debt is held by OECD member export credit agencies. The Paris Club was born in 1956 when a group of creditor countries met in Paris to renegotiate Argentine debt owed to export credit guarantee institutions.