Wednesday, January 7, 2015

Kicillof stands behind government’s anti-vulture strategy

Economy Minister Axel Kicillof supported the government's stance in the judicial dispute with the holdouts, so called vulture funds, and considered that if done otherwise, the 1.6 billion dollars would have turned into US$55 billions.

“If Argentina would have paid what the vultures claimed for, 1.6 billion would become 55 billion. We could have made the worst mistake of our financial history,” Kicillof affirmed through his Twitter account.

According to the minister, “The world acknowledges Argentina’s right to defend its finances, its people, its dignity and sovereignty before a vulture attack,” as he proceeded with criticism against opposition members.

“The vultures abroad and its followers here said the [Rights Upon Future Options] RUFO clause was an excuse to avoid paying. To pay under the RUFO meant bringing down the restructuring”, he assured.