Banque De Gestion Priveesib v. La Republica De Paraguay

OPINION AND ORDER

MUKASEY, District Judge.

Plaintiff, a French bank, has sued the Republic of Paraguay and Banco Central del Paraguay, to enforce the terms of six loan agreements, all but one of which were guaranteed by the Central Bank. Plaintiff now moves for partial summary judgment pursuant to Rule 56(a) Fed.R.Civ.P., seeking judgment on Claims One and Four, which relate respectively to the Hospital Loan Agreement and the Alcohol Loan Agreement. For the reasons set forth below, plaintiff’s motion is granted.

I

During the late 1970’s and early 1980’s, Paraguay substantially increased its…