Tuesday, October 6, 2015

'Vulture funds not a priority in my agenda'

Victory Front (FpV) presidential hopeful Daniel Scioli.

Victory Front (FpV) presidential candidate Daniel Scioli said an agreement with so called “vulture” funds would be possible if the “interests” of Argentina were protected, as he expressed confidence the country will manage to get foreign investment in order to foster "productive development."

“We have gone through 93 percent of the agreement. Vultures are not my priority in the agenda of employment, which is people’s priority. Neither is it the priority in the agenda of the President (Cristina Fernández de Kirchner). We have to seek the country’s sustainability,” Scioli said today in statements to the Radio 10 station and affirmed “no way” he will “bow his head” facing the demand by hedge funds to be paid in full.

The outgoing governor of the province of Buenos Aires hailed Monday’s ruling saying that the cash Argentina deposited last year for restructured debt payments that were frozen by US Judge Thomas Griesa, could not be seized.

“Conditions are being created so that (holdout creditors) have to accept a fair, equitable, sustainable agreement taking care of the country’s interests. Meanwhile, we seek to increase the level of reserves, the credit for infrastructure works and at some point they will have to realize that they won’t be able to continue with the mechanism of seeking to collect whatever they want in any way,” Scioli warned.

“The upcoming stage, after having recovered and grown, is the one of the Argentine development and investments. We won’t seek for money for a financial country, but for a productive country. When (Silvia) Batakis goes to talk (to the IMF and World Bank meeting in Peru), she goes to talk with investors, for them to come and take advantage of the opportunities the country has, not to come to gamble.”

Queried about recent statements by governor of the province of Salta Juan Manuel Urtubey speaking before the Council of Americas in New York, the FpV presidential candidate defended Urtubey ‘s call for an agreement with hedge funds, which many here questioned considering it opposed the stance of the Cristina Fernández de Kirchner administration in the legal dispute.

“Urtubey said the solution is to fix the problem of the Argentinean people with sustainability and not in any way. We will have to sit (and negotiate). His word makes sense,” Scioli said.

“We will sustain what has to be sustained and change what we have to change, correct what has to be corrected. The way we have always done. If there is someone who has always respected my institutional space, it is the President,” he affirmed and responded to critics that said it will be Cristina Kirchner who will remain conducting the country’s affairs even if he gets elected president, saying there was “no doubt” that it will him who will lead the government and make the decisions.