RIO DE JANEIRO, BRAZIL - This Monday, May 31, Argentina failed to meet its obligation to pay the outstanding balance of principal and interest on financing from the so-called Paris Club under the terms of a refinancing agreement signed in 2014.
Argentina, which had already acknowledged in advance the impossibility to meet its debt commitments with the Paris Club and with the International Monetary Fund (IMF), decided to avail itself of the 60-day grace period provided in the 2014 agreement in case a debt is not settled on the maturity date.
After that time, if Argentina does not regularize. . .
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