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September 16, 2014
Tuesday, April 29, 2014

'Argentina is the country that has reduced public debt-to-GDP ratio the most'

In today’s press briefing Cabinet Chief Jorge Capitanich asserted: “Argentina is the country that has reduced its public debt-to-GDP ratio the most, by 76%,” and he underscored the government’s will to negotiate with its Paris Club creditors starting May 28.

“This government –Néstor Kirchner’s and Cristina Fernández’- took the responsibility to pay other government’s financial obligations,” Capitanich pointed out and praised the government’s “drastic public debt reduction”.

He refused to give further details on what Argentina’s stance in the negotiations will be “There is a formal date set for the negotiations for May 28. The process must be preserved in order to reach an agreement,” he said to the press.

Capitanich praised the government’s “determination” and said that the Paris Club negotiations is the final stage in Argentina’s debt-reestructuring process.

PRESIDENTIAL ANNOUNCEMENTS

In his daily press conference at the Government House, Capitanich also talked about several announcements made yesterday by President Cristina Fernández.

Referring to the 10-billion-peso plan called Fondear destined to finance technological innovation projects announced by the President, Capitanich said: “It’s a very important tool that aims to use financing capabilities to help increase production.”

He also referred to the launching of a bank card for registered household workers. He said it “settles a 5-decades debt with household employees” and he pointed out the project seeks equal labor rights.

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Tags:  Capitanich  Paris Club  public debt  





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