Friday, April 24, 2015

Aníbal Fermández: Vultures failed, markets reacted to 'serious' offer

Cabinet Chief Aníbal Fernández prasied Argentina''s ''serious'' bond operation.

Cabinet Chief Aníbal Fernández accused so called “vulture” funds of “seeking to commit outrage” against Argentina amid their legal dispute involving the country’s defaulted bonds. However, the head of ministers pointed out hedge funds failed in their strategy as the success of this week’s dollar bond issue proved.

“It seems they (vulture funds) have done it late or they don’t know that when there is a serious proposal markets react in a different way,” Fernández told reporters this morning upon his arrival at the government house.

“Argentina has to continue with its life and will not stop because of this matter,” the ex senator affirmed.

Tuesday’s US$1.4-billion bond sale yesterday boosted reserves by US$1.25 billion to reach US$32.675 billion, the highest level of foreign currency reserves since November 2013.