Argentina said Tuesday it had reached an agreement with the Paris Club of creditor countries to avoid defaulting on a loan repayment in July and unlocking temporary relief of some $2 billion. "We have reached an understanding with the Paris Club" to avoid defaulting on July 31, when a grace period was to expire for the repayment of a final tranche of debt of about $2.4 billion, Economy Minister Martin Guzman told reporters. Instead of $2.4 billion, Argentina will repay $430 million in the short term, followed by the rest later. Argentina will continue negotiations for repayment of some $45 billion it owes the International Monetary Fund. "Our goal is to have a good agreement, the sooner the better, but the priority is that it be good," said Guzman. nn/mr/mlr/bfm