BUENOS AIRES -- Argentine officials Monday said they would restructure part of the gigantic public debt the nation defaulted on back in 2001.
Economic Minister Roberto Lavagna said the payment would also include more than $2 billion in arrears.
Argentina defaulted more than $100 billion in debt back in December 2001 following days of deadly riots prompted by the country's complete economic collapse.
Then Argentine President Fernando de la Rua -- who later resigned -- decided to freeze bank accounts and devalue the Argentine peso.
In the last year Argentina has posted a healthy rate of recovery, with the economy expected to show 7 percent growth in 2004 and unemployment on the decline, though still hovering around 19 percent.
