July 24, 2014
Gov’t praises US IMF nominee remarks on Vulture Funds case
Cabinet Chief Jorge Capitanich praised remarks made by the nominee to represent the US on the International Monetary Fund's executive board, Mark Sobel, who said that a US Court ruling favorable to Vulture Funds might “alter the order and predictability” of debt restructuring processes.
“It is a very important stance. He [Sobel] expressed a very clear standpoint” Capitanich said and added that the US nominee’s standpoint highlights not only that this process takes time, but that it also “has global ramifications”.
“Judicial considerations on voluntary debt restructuring processes must take into account the countries’ sovereignty,” the Kirchnerite official said during his daily brief to the press at Government House.