CFK will settle debt with bondholders

President Cristina Fernández de Kirchner ratified today her intention to pay off 10.3 billion pesos in August for the 2012 Boden bonds in order to meet the 2001’s "Corralito" payments.

“If Argentina wishes to pay off its foreign currency debts, it could do it with the use of the Central Bank reserves”, Fernández de Kirchner stated during a televised speech at the Government House.

The President also announced Argentina will pay 10.3 billion pesos in August for the 2012 Boden bonds in order to meet the 2001’s "Corralito" payments.

Fernández de Kirchner explained that at one point Argentina’s debt reached 130 percent of the GDP.

“Today, the debt accounts for 40 percent of the GDP, being 14 percent owned by private parties – both domestically and internationally – and 9.6 percent only in dollars or euros.”

The Head of State also aimed to some media groups which had said that "Argentina was about to be expelled from the G20 group”.

"Those rumours were unfounded. Actually, some euro zone nations are contemplating using some of the policies used by Argentina on previous crises."