Argentina's debt servicing costs are set to more than double in 2015 as foreign reserves slide to critically low levels, boosting pressure on the nation to resolve its 12-year-old battle with creditors and regain access to international credit markets. Debt payments in foreign currency will rise to $9.4 billion next year, $6 billion of which is due in October to pay holders of its Boden 2015 debt, according to government data analyzed by Reuters. Argentina has agreed this year to make payments to the Paris Club, the World Bank and Repsol SA that will cost about $1.5 billion in 2015, according to Bank of America estimates. Foreign reserves, which fell 30 percent last year and stand at eight-year lows of about $29 billion, are seen falling in the second half of 2014 after Argentina's main farm exports, soy and corn, are harvested and sold in the first half.
via Business News - Yahoo Finance http://ift.tt/1pC7JPX
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