Tuesday, October 6, 2015

Kicillof says Macri's pro-vulture stance would have 'tripled' Argentina's debt

Economy Minister Axel Kicillof is running for Congress.

Economy Minister Axel Kicillof harshly criticized PRO leader Mauricio Macri for saying Argentina should comply with a ruling by US Judge Thomas Griesa ordering the country to pay so called “vulture” funds in full.

“Macri wanted to unconditionally surrender to foreign creditors. That would have tripled the debt and taken us under water,” Kicillof said today in statements to the Radio 10 station.

The Victory Front (FpV) candidate to Congress rejected criticism by sectors saying the Cristina Fernández de Kirchner administration was leaving a “bomb” to “explode” during the upcoming government, considering that the “misfortunes” economists in the opposition forecast will instead take place if Mauricio Macri wins the October 25 elections.

“I have no doubt that if Macri wins, the misfortunes that economists in the opposition talk about can happen,” he said. “The apocalypse they proclaim is what they wanted to happen to win the elections.”

Queried about the payment of the Boden 2015 bond, Kicillof said “it is a final chapter of the long process” of Argentina getting out of the red.

“What happened yesterday, just like President Cristina Fernández de Kirchner said, is a final chapter in the long process of Argentina getting out of the read after decades of indebtedness and the default of 2001,” the minister affirmed this time in statements to the FM Blue radio station.

“After the Boden payment, some newspapers try to make catastrophe headlines without any kind of basis. 5.9 billion dollars were paid on time, in the correct currency. They say reserves dropped: when a country pays a debt it does it with the dollars it has in the reserves; so good news are we paid the bond, which they said we were not going to be able to do.