Argentina, Paraguay advance Yacyretá debt talks
Argentina's foreign minister Jorge Marcelo Faurie and his Paraguay counterpart Eladio Loizaga signed diplomatic notes (in photo) to fulfill an act of understanding regarding the Yacyretá binational hydroelectric dam.
In May, Argentina's President Mauricio Macri and Paraguay head of state Horacio Cartes inked the act to reduce debt owed by operator Entidad Binacional Yacyretá (EBY) to Argentina and help EBY carry out needed investments.
Read Argentina, Paraguay launch US$610mn dam expansion tenders
"The document we just signed with the foreign minister closes almost two-and-a-half years of intense negotiations," an EBY release quoted Loizaga as saying.
"Yacyretá needed an economic structuring, an overhaul of its budgetary and financial schemes," a release from Argentina's foreign ministry quoted Faurie as saying.
The diplomatic notes will be submitted to both countries' congresses for approval.
In a joint statement, the ministers also called on the Argentine-Paraguayan joint commission for the Paraná river (Comip) to continue studies to determine the environmental, technical and economic feasibility of the Itacorá-Itatí power generation project.
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