July 28, 2014 / 9:53 PM / 4 years ago

Argentina pays Paris Club first tranche to clear debt

BUENOS AIRES, July 28 (Reuters) - Argentina on Monday paid the Paris club a first $642 million tranche as part of a deal to clear its debts with the wealthy club of creditor nations, the economy ministry said.

“In this way, Argentina continues its path of resolving the international liabilities produced by the 2001 default,” the ministry said in a statement.

Argentina clinched a landmark deal with the Paris Club in May to clear around $9.7 billion of arrears resulting from the country’s 2002 default over the next five years. (Reporting by Jorge Otaola; Writing by Sarah Marsh; Editing by Diane Craft)

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