Weekly Report - 3 March 2011 (WR-11-09)

ARGENTINA-PARAGUAY | Yacyretá. On 25 February, President Cristina Fernández of Argentina and her Paraguayan peer, Fernando Lugo, officially inaugurated the bi-national Yacyretá hydroelectric dam at its full capacity, 37 years after its construction began. The two presidents signed a “declaration of intent", as Paraguayan Chief of Cabinet Miguel López Perito described it, which aims at partially freeing Paraguay of its multi-billion dollar debt to the Argentine treasury for its share of the dam's construction cost by 2013. If realised, the agreement could knock off US$11bn worth of interest from Paraguay's total debt to Argentina of US$17bn.

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