Capitanich: ‘Nat’l Gov’t not involved in peso bonds swap decision’

Chaco governor Jorge Capitanich once again defended the decision to swap a dollar debt into pesos and assured that the National Government had not had any involvement in the decision he made last week. He also stated that the province followed a Central Bank disposition.

“The National Government has a policy and it is regularly complying with it”, Capitanich said during a radio interview. 

“Ever since its arrival in 2003, they [opposition forces] have been saying that the Government will not fulfill its obligations, but the fact is that both the National and provincial governments have regularly paid up their financial obligations.”

Likewise, Capitanich blamed the media for “misrepresenting his statements”, and said that his province "did not default; it strictly paid up its obligations.”

Furthermore, the governor said that other provinces under similar conditions --holding public debt bonds issued under Argentine law-- must also pay in pesos.

To end, Capitanich questioned credit-rating agencies and highlighted that “all they do is try to punish Argentina in a completely unnecessary way. There is animosity against the country because it doesn’t respond to the behavioral patterns that the international financial system demands.”