• Argentina refuses the Russian loan, for $ 1.9 billion

  • The Argentine government intends to abandon the Russian loan of $ 1.9 billion for construction of HPP. About it reports Bloomberg with reference to the message the Ministry of Finance of the country.

    "The financial terms proposed by Russia, ceased to be attractive after Argentina came out of default," — said the Ministry.

    In March, the Senate of Argentina approved an agreement to pay hedge funds holding sovereign debt of countries that the local press calls "vulture funds".

    Russia in 2015, expressed its willingness to provide a loan for 20 years at an interest rate of 6.5 percent for the construction of HPP "Cuido-1" in the South-West of the country.

    Argentina defaulted on payments on $ 100 billion in 2002. Most of this debt was restructured, resulting in holders of bonds in 2005 and 2010 received less than 30 percent of the lent money. Minority debt holders decided to seek payment on the bonds in U.S. courts, but failed, as it required payment of the full amount.

    In 2014, Argentina has allocated funds to pay holders of its restructured debt, but the American judge Thomas Griza its decision blocked these tools to give funds the advantage of obtaining benefits. As a result, 30 Jul 2014 Argentina has announced the immediate suspension of payments.

    http://lenta.ru

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