Vulture funds: Kicillof arrives in New York to meet with court-appointed mediator

File photo of Economy Minister Axel Kicillof, head of the Argentine delegation.

A delegation headed by EconomyMinister Axel Kicillof will meet today with the Special Master appointed by US Judge Thomas Griesa, Daniel Pollack, to begin talks with holdout bondholders, who seek full payment on 1.33 billion dollars plus interests.

Kicillof described the delegation as “very qualified” and said the so-called vulture funds representatives will not be at the meeting.

Finance Secretary Pablo López, the Economy Ministry’s Legal and Technical Secretary Federico Thea and Deputy

Attorney

of the Treasury Javier Pargament were accompanying Minister Kicillof.

Argentina is to negotiate over Griesa’s ruling, that ordered the government full payment to holdout bondholders by the end of the month.

The country needs to come to a deal with the holdouts who rejected its debt restructurings in the wake of its 2002 default on $100 billion, in order to avoid a fresh default.

The Argentine government has reiterated its willingness to pay but has demanded “fair, legal and equal conditions” for all bondholders.