December 6, 2013
CFK to bring vulture funds dispute to UN General Assembly table
President Cristina Fernández de Kirchner will be adressing the United Nations General Assembly today at 1700 Buenos Aires time with a speech that is expected to have Argentina’s long-standing battle against vulture funds among its mainstays.
During a meeting with Brazilian leader Dilma Rousseff yesterday in the margings of the New York gathering, Fernández de Kirchner indeed renewed Argentina’s payment commitment and questioned the position of US-based NML Capital Ltd and Aureliuos Capital benefited by a recent ruling by New York federal judge Thomas Griesa ordering the South American country to pay around 1.3 million dollars.
“0.45 percent of creditors face 93 percent of those who have accepted the swap and a country that is religiously paying its debts and they are not letting it pay,” the President told media after her encounter with Rousseff in reference to the group of bondholders suing Argentina over its defaulted bonds more than a decade ago and that refused to enter the 2005 and 2010 historic debt swaps.
Facing the Griesa ruling, the national government outlined a new debt swap Ms. Kirchner submitted to Congress back in August. The bill was signed into law by the Lower House earlier this month.
With the General Assembly already starting at the NY headquarters this morning, Cristina Fernández de Kirchner is expected to address leaders of the international community at around 5 pm this afternoon. Syria and anti-war claims might also be part of CFK’s statements today.