'We're willing to pay vulture funds but on equal conditions to other bondholders'

During the opening of the 131st legislative sessions, President Cristina Fernández de Kirchner defended her debt reduction policies and blasted the so-called vulture funds and multilateral organizations. “The world has to choose whether they will let a handful of people ruin everyone or privilege the people.”

"We are willing to pay to the vulture funds, but not in the best conditions than the 93 percent that had trusted in Argentina, because we would be committing fraud to those who believed in our country," the Head of State assured.

The President was referring to the request of the Appeals Court of New York to present on March 29. "We offer these vulture funds to receive the same way the others are today collecting. This is justice," she highlighted.

The president added that "if there's a country or a system that chooses to damage the 93 percent of the bondholders to benefit the other 7 percent, and also damage the financial balance, then I would doubt if this is justice."

Fernández de Kirchner also celebrated the 30th anniversary of the return of democracy, “in which Argentines recovered the right to life that had been taken from us by state terrorism.”

“Thirty years in which we’ve recovered freedom and popular sovereignty as a legitimate source of the public powers in Argentina,” she added.

“The last ten years are symbolized by development and growth,” she said as began her speech. She also considered that “an economy that shuts people out only serves a few, but when everyone is included it takes a different path.”

She also assured during the 3 hours and 40 minutes speech that the National Government is mulling the implementation of the PROCREAR “a new credit line for the families that already have a home but want to improve their properties.”

She praised the implementation of the affordable housing programme, which this year is expected to reach a milestone of a million homes built.

She mentioned her administration’s policies of inclusion, pensions and the use of the pension funds and the Universal Child Allowance.

The President gave her speech before both houses of Congress as she opened the legislative year.