Wednesday, August 27, 2014

Capitanich: 'Argentina is under speculative attack'

After the US dollar informal rate broke a new record yesterday, advancing 22 cents to 14.20 pesos, Cabinet Chief Jorge Capitanich accused vulture funds of carrying out “speculative attacks against the (peso) currency” to “systematically erode the government’s credibility and trust.”

The chief of ministers pointed out that the vulture funds act through “powerful international lobbies” and local “opposition leaders, unions and concentrated media groups” to carry out “insidious attacks” against President Kirchner and her government.

He added that vulture funds also act through financial groups and said that “Argentina has suffered a very clear speculative attack in the first months of the year (…) and is suffering a continuos speculative attack through the ‘blue’ dollar.”

“The government is not willing to pay a ruling for a 1600% gain that seeks to destroy the debt restructuring process,” the official stressed during his daily press briefing at government house.