Argentina’s creditors back $65 billion debt restructuring deal

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The video item below is a piece of English language content from France 24. France 24 is a French state-owned international news television network based in Paris.

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  • Creditors have voted overwhelmingly in favour of a deal to restructure $65 billion worth of Argentina’s debts. The government said the deal would help bring financial relief worth $37.7 billion by 2030. The agreement – concluded last month – also paves the way for Buenos Aires to re-negotiate its bailout with the International Monetary Fund. Argentina is in its third year of recession, with high inflation and rising poverty levels, a situation that has been exacerbated by the coronavirus pandemic. 

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    In This Story: Argentina

    Argentina, officially the Argentine Republic, is a country located mostly in the southern half of South America. Sharing the bulk of the Southern Cone with Chile to the west, the country is also bordered by Bolivia and Paraguay to the north, Brazil to the northeast, Uruguay and the South Atlantic Ocean to the east, and the Drake Passage to the south.

    With a mainland area of 2,780,400 km2 (1,073,500 sq mi), Argentina is the eighth-largest country in the world, the fourth largest in the Americas, the second largest in South America after Brazil, and the largest Spanish-speaking nation by area.

    Argentina claims sovereignty over part of Antarctica, the Falkland Islands, and South Georgia and the South Sandwich Islands.

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    France is a republic and the largest Western European nation. Through expansion and colonisation in the 17th and 18th centuries France became a great power and still retains territories around the world. It has a seat on the UN security council and is the world’s fourth most wealthy country with a high standard of living and strong cultural identity.

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