Argentina settles debt

Argentina will pay its entire €4.4bn debt to the Paris Club of lending nations, President Cristina Fernandez said, shoring up sagging investor confidence and opening the door to needed new capital as the country’s economy slows.

The payment, which will tap about a sixth of the country’s €30.7bn in foreign currency reserves, “confirms one more time Argentina’s willingness to meet its international obligations”, Ms Fernandez said.