July 31, 2014
Gov't ratifies 'fair negotiating conditions' demand in Wall Street Journal ad
The government has decided to take the country’s long-standing bond fight against vulture funds to international media. “Argentina wants to continue paying its debts but they don’t let it,” is the title of an advertisement published today in the Wall Street Journal.
“Argentina wants to continue paying its debts, just as it has been doing since 2005, but this is now hindered by Judge Thomas Griesa’s ruling and by the US Supreme Court’s refusal to take on the case,” the statement starts, warning that Griesa’s order – that is to pay bondholders involved in the dispute 1.5 billion dollars -, “is a path leading to default.” “If they are not paid, Judge Griesa’s order entails jeopardizing the right of the bondholders to collect their debt restructured in 2005 and 2010,” the document reads.
In its Wall Street Journal ad, the government also ratifies its pro-negotiation stance, talks that President Cristina Fernández de Kirchner yesterday said must be guaranteed under “fair conditions.”
“The will of Argentina is clear: we expect a judicial decision that promotes fair and balanced negotiating conditions to resolve this protracted and difficult dispute that has affected, affects and will continue to affect the Argentine people due to the voracity of a minute group of speculators.”