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Argentina to pay off Paris Club debt, $6.7B
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Published: September 3, 2008
BUENOS AIRES, Argentina - Argentina will pay its entire $6.7 billion debt to the Paris Club of lending nations, President Cristina Fernandez said yesterday, shoring up sagging investor confidence and opening the door to new capital as the country's economy slows.
The payment, which will tap about a sixth of the country's $47.1 billion in foreign-currency reserves, "confirms one more time Argentina's willingness to meet its international obligations," Fernandez told a news conference.
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