July 24, 2014
Bossio calls for "calm", says Argentina 'is willing to pay'
The ANSES social security agency executive director, Diego Bossio called for “calm” regarding US judge Thomas Griesa’s ruling that orders Argentina to pay bondholders who rejected the debt restructuring, saying Argentina “is willing to pay”.
“There is an unprecedent willingness to pay,” Bossio stated. “There is a will to negotiate and reach an agreement,” he added.
Bossio pointed out that Argentina has restructured its debt and praised YPF-Repsol deal, the country’s agreement with its Paris Club creditors as well as the government’s solution to disputes filed at the World Bank's International Centre for Settlement of Investment Disputes (ICSID).
“There is a government, a minister [Economy Minister Axel Kicillof] that had said that we will take a first step to make a swap and eventually pay in Argentina,” he said.
However, the ANSES official expressed his concerns saying “Some rulings are impossible to comply with” due to the lack of the dollars required. “What is the solution? [economic] adjustment?,” he asked, rethorically, immediately dismissing that option, saying “those who have the least suffer” in consequence.
“I call for caution, calm, because Argentina has solved conflicts [before],” Bossio said.