Washington 'won't side with Argentina in court,' Kerry affirms on vulture funds dispute

The Barack Obama administration will not support Argentina in its long-standing dispute with vulture funds suing the South American country over its defaulted bonds more than a decade ago, US State Secretary John Kerry has warned. Still, the American official praised what he considered some “positive steps” by the Kirchnerite government.

During a brief to the US Congress, Kerry said that Washington “urged Argentina to pay its public and private debtors”. “No, the answer is no. We are not going to”, the state secretary affirmed when we was asked whether Obama’s government would “side with Argentina in the court.”

However, Kerry did praise certain decisions – “positive steps” he considered -, carried out by the Cristina Fernández de Kirchner administration in recent months, such as October’s settlement of a controversy with three American companies that had reached the International Center for Settlement of Investment Disputes (ICSID) and the creation of a new Consumer Price Index.