Wednesday, April 22, 2015

Gov't media critics create opinion Argentina will not pay - Kicillof

Following Tuesday’s successful foray into dollar markets with Argentina selling US$ 1.4 billion in bonds under local legislation despite pressures by so called “vulture funds” seeking to scare off potential investors, Economy Minister Axel Kicillof questioned media coverage here of the news.

“They must be pretty much angry because the issuance was done without banks,” Kicillof said in statements to a radio show this morning.

“They said not even his wife would lend money to Kicillof. They said before they did not lend us (money), now they say they are lending us at a high price,” the minister affirmed accusing media critics of changing the focus of discussion on the government’s economic decisions.

“Investors know we are going to pay the Boden 15 without problem, media are the ones creating the opinion that we won’t,” he said granting an interview from Moscow where he is joining President Cristina Fernández de Kirchner in a 2-day official visit.

A "dark" global scenario

Earlier today, the minister took part in a forum of business leaders held in Moscow where he defended the “strategic alliance” between Argentina and Russia facing a “dark” international scenario, praising as well Argentine efforts to overcome the 2001-2002 crisis when the country’s external debt accounted for 166 percent of the GDP.

“With three measures - investment to end social exclusion, (investment) in infrastructure and the debt restructuring -, we have passed to only a 40 percent of (debt) of the GDP. We have brought free of the chain of decisions of financial centers.”

“The global economic crisis that started in 2008 continues to evolve,” Kicillof insisted warning the turmoil was already reaching emerging countries.

Facing such scenario, the minister assured international credit organisms and developed nations will offer no “palliative” to assist emerging economies.

“That is why the strategic alliance between Argentina and Russia is so necessary, between countries that advocate for multilateralism in international relations and for different economic policies.”