Monday, December 29, 2014

Capitanich to vulture funds: ‘We will not accept extortions’

Cabinet Chief Jorge Capitanich speaks at the government house.

The government has reiterated its stance in the long-standing legal battle against its holdout creditors, the so called “vulture funds”, following the remarks by Senior portfolio manager at NML Capital Jay Newman, who said yesterday that “Argentina is capable of paying all of its creditors” given its “vast natural ressources.”

Cabinet Chief Jorge Capitanich explained in his daily press briefing at the government house that the country’s “strategy is always the same” and that the Kirchnerite administration seeks “fair, equitable, reasonable and sustainable conditions for all bondholders.”

“We will not accept extortions and we will follow the Constitution and the Law,” the chief of ministers stressed. He added that the Sovereign Payment law passed last September will allow the country to establish negotiating conditions.

In an interview with La Nación newspaper, Newman has accused the government of being responsible for the ongoing legal dispute, which he said was a result of “Argentina’s coercive behaviour.”