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Weekly Report - 24 June 2021 (WR-21-25)

ARGENTINA: Bridge agreement with Paris Club buys time

The Argentine government has reached an agreement with the Paris Club of creditors. It is not over a debt restructuring deal but rather a bridge period agreement that staves off the risk of Argentina being declared in default next month and that gives the government led by President Alberto Fernández more time to negotiate the restructuring of Argentina’s large external debt. But it is only a temporary fix that does not fully resolve the debt crisis, and the risk of default remains latent.

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