Page "Argentine debt restructuring" Paragraph 17

The payment served to cancel the debt installments that were to be paid in 2006 ($ 5. 082 billion ), 2007 ($ 4. 635 billion ), and 2008 ($ 432 million ).

This disbursement represented 8. 8 % of the total Argentine public debt and decreased the Central Bank's reserves by one third ( from $ 28. 045 to $ 18. 575 billion ).

According to the official announcement, it also saved about $ 1 billion in interest, though the actual savings amounted to $ 842 million ( since the reserves that were in the BIS were until then receiving interest payments ).