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Wednesday, June 18, 2014

Gov’t warns stay suspension ‘makes impossible debt swap payment in New York’

Economy Minister Axel Kicillof in yesterday''s press conference. (TÉLAM)

The Economy Ministry announced today that Argentina will not be able to fulfil with the debt swap payments on June 30, in response to US Appeal Court ruling which suspended a previous injunction measure filed by President Cristina Fernández de Kirchner administration.

According the official press release, this step “manifests the unwillingness to negotiate in different conditions to the ones acquired in Judge Griesa’s ruling.”

The communiqué stated that “Argentina regrets the court decision”, and assured the country will not be able to fulfil it commitments, “unless we will pay simultaneously the total of the amount demanded by the vulture funds,” a figure which the government estimated in 15 billion dollars.

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Tags:  Argentina  Vulture Funds  Paul Singer  Debt swap  US  Supreme Court  Griesa  CFK  





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