Investors around the world have agreed to exchange almost $30bn (€35.3bn) of Argentine government debt to help ease the country's liquidity crisis - far outstripping the $15bn to $20bn analysts said was necessary to call the deal a success.

Following the deal's launch last Friday, investors agreed to tender $27.4bn of old Argentine bonds for three new bonds that mature in 2008, 2017 and 2031. Credit Suisse First Boston and JP Morgan managed the swap.

Argentina's debt swap exceeds expectation

Jeremy Adams

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