August 1, 2014
Argentina's Paris Club offer 'very interesting'
Cabinet Chief Jorge Capitanich has praised France’s support to Argentina in both its debt disputes with US-based vulture funds suing the South American country over its defaulted bonds more than a decade ago and the Paris Club creditor nations group.
During his daily brief to the press at the government house, the head of ministers affirmed Argentina’s offer to the Paris Club is highly “interesting” and that it will allow to “promote direct foreign investment” while Buenos Aires complies with its debt payments.
Capitanich explained last Friday’s official invitation to start negotiations follows a first bid that Economy Minister Axel Kicillof had made to the group of lenders and that payment details will be decided once talks start on May 28.
Yesterday, President Cristina Fernández de Kirchner held a press conference in Paris along with her French counterpart Francois Hollande and confirmed the support of the European nation to Argentina, facing a u$S 9.5 billion debt dispute with the Paris Club while battling still against a group of bonholders that refused to accept the swaps set by the Kirchnerite administration back in 2005 and 2010.