Monday, September 23, 2013
CFK assures that creditors outside debt swap will be repaid
President Cristina Fernández de Kirchner has confirmed that Argentina will honour its obligations to so-called 'vulture funds' and pay debts, if the United States Supreme Court rules against the country in the ongoing legal struggle.
Speaking after today's meeting with Brazilian head of state Dilma Rousseff, Kirchner assured that the nation would satisfy the wishes of creditors both in and out of the debt swap initiatives.
"I want to put the 93 percent [that entered the debt swaps] at ease, we will pay them in the currency agreed, as well as the seven percent who did not enter and to whom we gave the opportunity," the president stated.
"The other countries support Argentina's position, this will be taken into account, and if it is not taken into account we will pay all the same. The only thing that Argentina will not allow is non-payment," she added.
Kirchner revealed that the 'vulture funds' issue would form part of her speech to the UN General Assembly and maintained that Argentina is "a country that religiously pays its debt, we have arrived at a paradox where it is not allowed to pay."
A decision from the Supreme Court on whether it will take Argentina's case is expected on September 30, after the government appealed Thomas Griesa's ruling in favour of creditors and ordered the payment of 100 percent of the bonds currently held in default.
Speaking after today's meeting with Brazilian head of state Dilma Rousseff, Kirchner assured that the nation would satisfy the wishes of creditors both in and out of the debt swap initiatives.
"I want to put the 93 percent [that entered the debt swaps] at ease, we will pay them in the currency agreed, as well as the seven percent who did not enter and to whom we gave the opportunity," the president stated.
"The other countries support Argentina's position, this will be taken into account, and if it is not taken into account we will pay all the same. The only thing that Argentina will not allow is non-payment," she added.
Kirchner revealed that the 'vulture funds' issue would form part of her speech to the UN General Assembly and maintained that Argentina is "a country that religiously pays its debt, we have arrived at a paradox where it is not allowed to pay."
A decision from the Supreme Court on whether it will take Argentina's case is expected on September 30, after the government appealed Thomas Griesa's ruling in favour of creditors and ordered the payment of 100 percent of the bonds currently held in default.
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