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Italy-Argentina: agreement signed for repayment of sovereign debt by Argentina

Italy and Argentina signed a bilateral agreement yesterday, 19 January 2015, on the repayment to Italy of about 450 million euro in commercial and aid credits. The agreement was signed by Argentina’s Minister for the Economy and Finance, Axel Kicillof, and the Ambassador of Italy in Buenos Aires, Teresa Castaldo.

The agreement, which implements the Club of Paris understanding, will at last enable Argentina to return to the capital markets after the default of 2002. The country will also have access to the benefits of export credit agencies (include SACE), and as result boost its exports and attract more foreign investors.

During the signing ceremony both sides expressed the hope that the already close relations between Italy and Argentina will grow even stronger. They hoped, too, to see an intensification of the excellent economic and commercial collaboration by the two countries, as witnessed by the presence of numerous Italian companies in Argentina.