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Argentina Accelerates Negotiations With Paris Club, Ambito Says
Bloomberg
August 22, 2008

By Drew Benson

Argentine President Cristina Fernandez de Kirchner, and her husband and predecessor Nestor Kirchner, are stepping up talks with Paris Club creditors to clear the nation's defaulted debt, newspaper Ambito Financiero said.

The administration decided to accelerate talks with the creditors, an informal group of countries including the U.S. and Japan that work to find resolutions with troubled debtors, because it has become more difficult to obtain financing through bonds sales, Ambito said.

Central Bank President Martin Redrado is heading the renewed effort, which began last week, the newspaper said without identifying any sources of information.

The Paris Club lent Argentina $6.3 billion in 2001 before the nation defaulted on $95 billion in debt in December of that year.