Paris Club and the Argentine Republic agreed on arrears payment scheme


Finnvera’s representatives Vice President Ms. Raija Rissanen and Senior Adviser Ms. Outi Homanen participated  in the Paris Club negotiations with the Argentine Republic on May 28th, 2014. Negotiations lasted for 20 hours and were held in constructive spirit.

The occasion was historic. Argentina has previously defaulted several times against Paris Club creditors. The country was Club’s first client in 1956. This settlement solves  Argentina’s arrears to the Paris Club creditors for the last 12 years. Arrears amount in total to USD 9,7 billion, of which arrears to Finland are USD 8,7 million. Payments will be settled during the next 5 years. Realization of the agreement is an important step for Argentina’s normalization of financial and economic relationship with the international financial community. The initial reaction of markets has been positive.

Senior Budget Adviser Seija Kivinen and Ministerial Adviser Joanna Tikkanen from the Ministry of Finance participated  in the negotiations.


029 460 11 (weekdays 9:00 a.m. and 4:15 p.m.)

Financial advice

029 460 2582 (weekdays 9:00 a.m. and 4:15 p.m.)

Other matters

029 460 2790 (weekdays 9:00 a.m. and 4:15 p.m.)

Helsinki Headquarters

Porkkalankatu 1

PL 1010, 00101 Helsinki

Kuopio Headquarters

Kallanranta 11

PL 1127, 70111 Kuopio

All contact information