Circular External Collections and Payments COPEX 1-108 and Public Sector External Operations SEPEX 1-10 Paris Club

CENTRAL BANK OF THE ARGENTINE REPUBLIC COMMUNICATION "A" 921 17/09/86 TO FINANCIAL ENTITIES AUTHORIZED TO OPERATE IN EXCHANGE AND EXCHANGE BROKERS: Ref: Circular EXTERNAL COLLECTIONS AND PAYMENTS - COPEX - 1 - 108 and Circular PUBLIC SECTOR EXTERNAL OPERATIONS - SEPEX - 1

• 10. Paris Club.

1. We address you and through you to the interested sectors, with reference to the obligations covered by the guidelines agreed upon within the framework of the financial program of the Paris Club, with unpaid maturities and/or that operate during the current year.

2. It is recalled that the Paris Club framework agreement covers debts in the concept of loans from governments or official agencies of the creditor countries that are signatories to the Multilateral Agreement on the Consolidation of the Debt of the Argentine Republic of January 16, 1985, as well as commercial obligations with guarantee or insurance granted by said countries or agencies, incurred before 10.12.83, and contracted with payment terms greater than one year (Communication "A" 621). The countries signatory to the agreement are: Austria, Belgium, Canada, Denmark, Finland, France, Federal Republic of Germany, Israel, Italy, Japan, Netherlands, Spain, Sweden, Switzerland, United Kingdom and United States of America. The reconciliation process carried out for maturities after 31.12.85, that could correspond to additional countries to those indicated, the attached lists do not include the total of debts susceptible to be incorporated into the bilateral agreements. As for the obligations covered, payments abroad remain suspended (Communication "A" 848) it is the responsibility of the entities to ensure that the cancellations that are made do not correspond to such obligations, even if they are not explicitly mentioned in the annexes. The External Debt Department of this Bank will attend to the inquiries that are made regarding the inclusion or exclusion of operations from the annexes of this Communication.

3. For all private sector obligations with maturities from 1.1.86, covered by the agreements with the Paris Club, excluding those that have the guarantee of the Secretariat of Finance, of official banks, and of companies or public agencies, the debtors must present through the authorized financial entity intervening, form 4008-C in which they must

include the accrued interest between the date of maturity of the obligation with the exterior and the date of the day immediately preceding the constitution of the deposit (Communication "A" 459). The interest rate will be the one agreed between debtor and creditor at the time of incurring the obligation.

4. The presentations of form 4008-C must be made with an advance not exceeding 15 calendar days (Communication "C" 1529) and until the date of maturity of the obligation. The forms corresponding to operations matured between 1.1.86 and 17.9.86 must be presented before 10.10.86. In the case of forms 4008-C presented to this Bank prior to 17.9.86, the debtors must comply with the procedure described in point 3, presenting if applicable, before 10.10.86, a new form 4008-C in which the number of the form that is being regularized is left on record and mentioning "PARIS CLUB - COMMUNICATION "A" 921".

We salute you very attentively. CENTRAL BANK OF THE ARGENTINE REPUBLIC Enrique A. Bour Julio Piekarz Manager of Studies and Statistics of the External Sector Deputy General Manager

ANNEXES

B.C.R.A. OPERATIONS INCLUDED IN THE AGREEMENT WITH THE PARIS CLUB - Public Sector - Annex I to Com. "A" 921 By creditor country, insurer organization and external debt form

SWITZERLAND (SWISS EXPORT RISK GUARANTEED) 000059 000156 000157 000220 000486 000779 000861 001074 001397 001398 001399 001400 001401 001402 001403 001404 001405 001406 001407 001408 001409 001410 001411 001413 001415 001416 001417 001419 001742 001743 001744 001745 002271 003161 003177 003182 003194 003202 003212 003219 003241 003305 003317 003326 003453 004148 004159 004171 004245 004280 004347 004574 004652 004810 004817 012506 012887 019116

FRANCE (CO.FA.CE.) 000397 000398 000829 001011 001060 001073 001181 002191 002193 002369 002413 002491 002596 003022 003036 003037 003041 003043 003051 003055 003190 003199 003209 003214 003215 003322 003668 003669 003675 003676 003677 003678 003679 003680 003681 003682 003683 003684 003685 003691 003692 003693 003695 003696 003977 003982 003983 004119 004146 004242 004243 004244 004312 004453 004520 004523 004721 004858 004859 004871 004893 004894 004896 005497 009094 009100 009101 009102 009103 010755 010756 011602 011935 011936 011937 013075 015388

SWEDEN (EXPORTKREDITNAEMNDE) 001392 001490 001492 003832 004144 004432 004544 004749 011727 019114 019115

ITALY (SEZIONE SPECIALE PER L'AZZIGNAZIONE DEL CREDITO ALL'ESPORTAZIONE) 000137 000141 000143 000145 000227 000228 001116 002664 002850 003160 003162 003163 003171 003179 003188 003203 003222 003327 004162 004237 004431 004526 004528 004535 004537 004557 004567 004603 004604 004606 004607 004650 004653 004654 004670 004751 004807 004808 004852 004853 004857 004872 004881 004912 005084

SPAIN (CIA. ESPANOLA DE CREDITO A LA EXP.) 000456 001678 003600 003601 003628 003629 003630 003631 003632 003633 003634 003635 003636 003637 003638 003639

SPAIN (CIA. ESPANOLA DE CREDITO A LA EXP.) 003640 003641 003643 003644 003645 003646 003647 003771 003772 003785 003786 003787 004152 004155 004165 004308 004468 004469 004470 004505 004639 004676 004748 004809 004815 004904 004908 004909 004919 004921 004926 004930 005255 005256 005257 005258 005259 005260 005261 005262 005263 005264 005265 005266 005267 005268 005269 005270 005271 005272 010844 010845 010849 010850 010851

AUSTRIA (OESTERRICHISCHE KONTROLLBANK) 000222 000232 002835 003304 003623 003624 003978 004149 004762

BELGIUM (OFFICE NATIONAL DU DUCROIRE) 001117 002397 002398 002399 002847 002877 004611 004634 004816 005089

FINLAND (VIENTITAKUULAITOS EXPORT G. BOARD) 001175 003599

ISRAEL (ISRAEL FOREIGN TRADE RISKS INSURANCE CO. LTD.) 002123 002133 004673 004708 005176

CANADA (EXPORT DEVELOPMENT CORPORATION) 000657 000658 004725 0014351 014352 014353 015505

NETHERLANDS (NEDERLANDSCHE CREDIETVER MAATSCHAPPIJ) 000431 003038 003052 003057 003662 003671 004717 004719

UNITED KINGDOM (EXPORT CREDIT GUARANTY DEPART.) 000142 000217 000432 000436 000457 000458 001429 001430 001431 001432 001433 001434 001435 001436 001437 001438 001439 001440 001441 001908 001936 002185 002414 002843 003031 003089 003184 003196 003198 003307 003318 003321 003567 003576 003577 003595 003625 004558

JAPAN (MITI) 000221 000225 000648 001389 001746 002415 002416 002417 003181 003182 003183 003191 003204 003208 003210 003216 003303 003319 003320 003332 003334 004311 004510 004512 004513 004602 004612 004630 004658 004671 004674 004681 004682 004713 004758 004868 004907 005241 006047 010242 010243 010475 010476 010477 010478 010479 010480 010481 010482 010514 010515 010516 010517

GERMANY (HERMES) 000223 000226 000231 000233 000373

B.C.R.A. OPERATIONS INCLUDED IN THE AGREEMENT WITH THE PARIS CLUB - Public Sector - Annex I to Com. "A" 921

GERMANY (HERMES) 000649 000780 001079 001080 001081 001082 001446 002418 002419 002421 002422 002423 002424 002834 002876 002885 003153 003154 003155 003156 003158 003167 003172 003173 003174 003175 003176 003189 003195 003465 003620 003622 004161 004313 004357 004495 004496 004497 004498 004499 004503 004517 004524 004525 004527 004538 004561 004684 004722 004723 004724 004752 004759 004785 004786 004793 004794 004795 004797 004798 004801 004802 004803 004804 004805 004806 004913 004933 017074 018549

GERMANY (KREDITASTALT FUER WIEDERAUFBAN) 001442 001443 001444 001445 001447 001448 003291 004495 017075

UNITED STATES (EXPORT IMPORT BANK) 000428 000429 000442 000454 001455 001485 001486 002411 002412 002547 002724 003301 003413 003414 003415 003462 003544 003819 003828 003829 003830 003831 004103 004212 004929 004931 004992 006825 011957 016444 016530 017105 017192 017193 017194 017766 017896 017897 017898 018100

UNITED STATES (FOREIGN CREDIT INSURANCE AGENCY) 000372 001101 001669 001670 003148 003149 004562 004897

UNITED STATES (AGENCIA PARA EL DESARROLLO INTERNACIONAL) 000352 000353 000354 000355 000356 000357 000358 000362 000363 000364 000365 000366 000856 000857 001734 005311

JAPAN (EXPORT IMPORT BANK) 001489 002916 002921 004238 004240 009111

B.C.R.A. OPERATIONS INCLUDED IN THE AGREEMENT WITH THE PARIS CLUB

• Public Sector - Annex II to Com. "A" 921 By creditor country, insurer organization and external debt form

SWITZERLAND (SWISS EXPORT RISK GUARANTEED) 004047 004520 004521 004522 004523 004524 006474 007056 008626 010493 011241 016467 016626 016627 017085 017290 017475 019127 019978 021224 024509 027143 027144 027145 027146 027147 027148 028558 030135 030137 030139 030473 032090 035755 039789 040516 041562 041563 041746 046283 046347 046384 046385 047063 047066 200131 277698 332383

FRANCE (CO.FA.CE.) 000299 000401 000404 000742 001763 001764 002255 002958 003219 003748 003892 004113 004339 004468 005012 005478 005702 005725 005881 006003 006005 006006 006007 006008 006009 006225 006537 007114 007541 007658 008723 009460 010215 010763 010767 011706 012802 013251 013274 013275 013358 013557 013558 013560 013563 013760 013761 013762 014072 014335 014379 014380 014397 014661 014883 015024 015025 015112 015113 015115 015116 015357 015358 016657 016746 017479 017818 017819 017820 017821 017822 017823 017824 017825 017826 017838 017843 017844 017845 017846 017847 019881 019912 019913 019914 019916 019922 019926 021223 021451 021534 022917 023910 024110 025037 027180 028002 028293 028314 028315 028316 028317 028318 028319 028320 028321 028322 028323 028324 028325 028328 028329 028330 028331 028332 028333 028885 029397 029929 029930 029932 029933 030214 030816 031612 032044 032107 033218 033714 033715 033716 033717 033718 033719 033720 033721 033722 033723 033727 033728 033729 033730 034361 034362 034363 034364 034365 034366 034367 034368 034369 034370 034371 034372 034373 034374 034375 034376 034377 034378 034379 034380 034381 034382 034797 035001 035071 035150 035746 035747 035757 039039 040510 040684 041293 041294 041295 041296 041297 041298 041299 041300 041301 041302 041303 041304 041305

FRANCE (CO.FA.CE.) 041306 041307 041308 041356 041357 041358 041359 041360 041361 041362 041363 041364 041365 041366 041367 041368 041488 041490 041493 041494 041495 041496 041497 041498 041499 041500 041501 041502 041503 041504 041505 041506 041507 041508 041509 041510 041511 041512 041513 041514 041515 041516 041517 041518 041519 041520 041521 041522 041523 041524 041525 041526 041527 041528 041529 041530 041531 041536 041566 041772 041773 044006 044007 044008 044009 044079 044329 044330 044333 044334 044335 044337 044338 044339 044340 044343 044344 044345 044347 044348 044349 044350 044351 044352 044372 044373 044374 044375 044377 044378 044379 044380 044381 044382 044383 044384 044385 044386 044387 044388 044389 044390 044391 044392 044393 044394 044395 044396 044397 044398 044399 044400 044401 044402 044403 045784 046302 046310 046322 046326 047076 047632 047673 047674 051239 051470 051562 051634 051789 052302 052352 206437 206442 206443 206456 210931 217089 220874 224447 251472 252322 252323 252324 253867 253868 253948 257456 257899 259234 266648 283069 283070 294281 309748 317843 336369 338499 344564 344565 344816 345008 345009 345010 345011 345012 345013 345015 345215 350728 365742 365743 377562 377563

SWEDEN (EXPORTKREDITNNAEMNDEN) 010037 012935 015654 015655 015656 015657 027579 027598 027600 028282 030140 033849 033893 033897 033900 033909 033910 033913 033925 033927 033928 033929 033930 033932 033933 033934 033935 033936 033937 033938 033939 033940 033941 033942 033943 033944 033945 033946 033947 033948 033949 033950 033960 033961 033962 033963 033964 033965 034035 039801 047392 050726 050727 050753 050766 050783

UNITED STATES (FOREIGN CREDIT INSURANCE AGENCY) 000192 000656 001215 001216 002010 002233 004038 004039 004040

B.C.R.A. OPERATIONS INCLUDED IN THE AGREEMENT WITH THE PARIS CLUB

• Private Sector - Annex II to Com. "A" 921

UNITED STATES (FOREIGN CREDIT INSURANCE AGENCY) 006320 006321 006322 006328 006329 006330 006777 007480 007695 008140 008141 008143 008144 008320 008322 010329 010630 011312 013227 013392 013393 013394 013395 014205 014292 014293 014647 014648 014649 014650 014651 015659 015660 016198 016754 019122 019123 019124 019125 019490 019491 020626 020627 020628 020899 020901 020902 024440 026174 026175 027969 030042 030043 030048 030049 030209 030259 030260 030261 030262 031209 035815 035816 035817 035818 035819 042271 042924 044680 044681 044682 044683 044686 044687 044698 044710 044711 044712 044763 044806 046505 047411 047419 048874 048938 052076 052246 052317 101071 207371 268108 288438 295314 295316

ITALY (SEZIONE SPECIALE PER L 'AZZIGNAZIONE DEL CREDITO ALL'ESPORTAZIONE) 001614 002101 002551 002747 005931 006020 006021 006022 006348 006455 006851 006903 007124 007355 007510 007598 007622 007665 007946 009057 009171 010124 010550 010745 010782 013533 013555 013787 013788 014073 014074 016602 016603 016605 016632 016633 016948 017088 017291 017474 019133 019545 020612 020865 021172 021536 024160 024858 025036 026095 026655 026656 027442 028675 029104 030211 030546 030780 030817 030818 030970 032097 032098 032099 032100 032101 035798 037142 037143 037144 039135 039145 039146 039663 041287 041288 041564 041568 044365 044366 044367 044691 046288 046305 046324 046387 046583 046750 046751 046752 046753 046754 046755 047606 048395 048396 048415 048416 048512 050673 050674 051459 051903 384662

SPAIN (CIA. ESPANOLA DE CREDITO A LA EXP.) 000964 001284 002393 002893 003220 005191 006082 006160 006162 006505 006506 006731 007113 007569 008709

SPAIN (CIA. ESPANOLA DE CREDITO A LA EXP.) 009123 010055 010323 010350 011243 011244 011863 011864 011865 011866 012257 012277 012278 012279 012280 012510 013529 013568 013569 013570 013571 013868 014492 014494 014626 015318 016107 018255 019085 019375 019909 019937 019994 021673 022397 022398 024488 024561 026622 028027 029574 029575 030030 030349 030526 031028 032050 032051 032052 033269 033270 033271 033272 033273 033274 033275 033351 034389 034390 034391 034392 034393 034394 034395 034396 034397 034398 034399 034400 034401 034402 034727 034949 034950 035333 035334 035335 038544 038545 038546 039066 039067 039068 039132 040453 040454 041127 041128 041573 041658 042257 042264 042266 042268 042269 042270 046102 046186 046187 047457 047458 047461 047463 047464 047466 047477 047478 047609 048642 049277 050827 052332 100110 223400 255620 255621 351576 384433 384435

DENMARK (EKSPO R- TKREDITRAD) 008435 012934 014920 014921 019923 031003 031026 039746 051899

AUSTRIA (OESTERRICHISCHE KON- TROLLBANK) 002590 002591 002592 003304 003874 007457 007458 007461 007462 007841 009643 010031 010032 010407 010408 010409 017529 017530 017531 017532 017533 017534 017537 017538 017539 018796 018801 019304 028676 028677 029060 029061 029427 035189 035190 035191 035192 035193 035194 035195 035196 035197 035198 035199 035200 035201 035202 035203 035204 035205 035206 035207 037150 037151 040507 042262 046351 048567 202730 214528 297073 298537 298538 298539 298540 298514 298542 298543 298544

BELGIUM (OFFICE NATI- ONALE DU D U- CROIRE) 005112 009874 012228 012229 012230 027601 028294 032447 214960

FINLAND (VIENTITAKU U- LAITOS EXPORT G. BOARD) 005134 034194

ISRAEL (ISRAEL F O- REIGN TRADE RISKS INS U- RANCE CO. LTD.) 001069 001751 002241 003246 003637 003859

B.C.R.A. OPERATIONS INCLUDED IN THE AGREEMENT WITH THE PARIS CLUB

• Private Sector - Annex II to Com. "A" 921

ISRAEL (ISRAEL FOREIGN TRADE RISKS INSURANCE CO. LTD.) 006813 007085 008993 010432 010457 011710 014104 019825 020567 025204 028017 028668 035303 046494 047420 052002 052003 052232 052233

CANADA (EXPORT DEVELOPMENT CORPORATION) 033770 048881 050745 050746 357740

UNITED KINGDOM (EXPORT CREDIT GUARANTY DEPART.) 000193 000678 001803 003634 004908 006318 006319 006778 007016 007110 007496 007694 007753 008323 008324 008381 008382 009236 009237 009451 009463 009757 010015 010016 010017 010018 010019 010423 010450 012304 013287 014203 014204 014641 014642 014643 014644 014645 014899 015041 015481 015649 015650 015651 015979 015981 015982 015983 015984 015985 015993 016277 016278 016279 016601 017295 017714 018022 020870 020884 020886 023914 023915 023916 023917 023918 023919 024284 024285 024286 025175 025871 025954 026467 027997 027998 029073 029074 029375 032041 032042 032168 032169 033671 034839 035208 035497 035969 035972 035973 035974 035975 037084 037140 037717 037718 037719 037720 037721 042279 046282 046285 046286 046293 046295 046297 046298 046299 046321 047096 047373 047396 047661 047672 050704 051969 052077 052116 052230 052231 211115 319006 254364 254365

GERMANY (HERMES) 000490 001724 002449 003262 003263 003264 004427 004548 004831 004936 005245 006447 007057 007058 007623 007624 008620 008687 009031 009444 010008 010880 011586 012032 012167 012168 012169 012170 012171 013347 013348 013349 013530 013532 015127 015128 016158 016816 016817 016925 017189 017190 017464 017740 017778 017779 017781 017872 017873 017874 017875 017876 019246 019917 019920 019927 019928 019929 019930 019931 020869 020871 022402

GERMANY (HERMES) 022403 023786 023791 023793 024103 024104 024105 024106 024107 024108 024109 026181 027142 027602 027603 028290 029077 030136 030212 030318 032025 032026 032027 032047 032048 032049 033686 033687 033689 033770 034142 034714 035343 035344 035345 035346 035347 035499 035754 037056 037060 037066 037070 037071 037080 037083 037086 037087 037088 039661 039662 040238 040239 040845 040847 040875 040981 040982 040983 040984 040985 041022 041565 046495 046496 046497 046498 047058 047062 047117 047394 047587 047365 047876 051444 051447 052234 208443 228802 256907 268121 277905 328561 354223 354224

UNITED STATES (EXPORT I M- PORT BANK) 007304 018631 023347 027415 033778 033781 048648 048656 048872 052165 052166 381084

NETHERLANDS (NEDE R- LANDSCHE CREDIETVER MAAT S- CHAPPIJ) 216175