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Argentina tells IDB it will delay payments for brief period

The Argentine government has notified the Inter-American Development Bank that, because of technical issues derived from public sector financing restrictions required by the charter of the country’s Central Bank, it is not in condition to meet its repayment obligations due today.

Argentine Economy Minister Roberto Lavagna has told the Bank that he expects “the delay will be brief and . . . will be resolved in the framework of broader refinancing agreements with multilateral organizations.” The minister reiterated Argentina’s commitment to the IDB.

In accordance with its policy on late payments, the Bank will suspend loan disbursements to the country while it is behind on its obligations.

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