November 27, 2014
CFK: We reached an agreement without IMF intervention
President Cristina Fernández de Kirchner expressed her delight at reaching an agreement with the Paris Club without International Monetary Fund (IMF) intervention, while defending Argentina's record in honouring debt commitments.
After inaugurating a series of water treatment facilities through videoconference across Buenos Aires, the head of state proceeded by highlighting the agreement that marks the beginning of the process to cancel 9.7 billion dollars of debt in five years.
Fernández de Kirchner praised the role of Economy Minister Axel Kicillof, who led negotiations in the French capital.
“It is the fist time that a country negotiates without the intervention of the International Monetary Fund (FMI), and without ceding our independency,” Fernández de Kirchner affirmed.
“I stayed up until 1.30-2.00 am,” she added.
The head of state stated “we are not serial debtors”, and criticised the so-called 'vulture fund' holdout investors, defining them as “serial predators.”
“We have been paying our financial debts religiously since May, 25 2003,” she argued, referring to the assumption of late husband Néstor Kirchner to the presidency.
The debt with the Paris Club, as Fernández de Kirchner explained, “Originated in 1956, after the overthrowing of President Juán Domingo Perón.”
Buenos Aires Governor Daniel Scioli, Secretary of Presidency Oscar Parrilli, UOM metallurgical union leader Antonio Caló, and activists from various pro-government organizations where all present at the event.