November 1, 2014
Gov’t asks Griesa for a stay on debt ruling
Economy Minister Axel Kicillof briefed the press on the content of Argentina’s formal presentation to Judge Griesa today. “We are asking judge Griesa for a suspension of his ruling in order to start a dialogue in fair, equitable and legal conditions, without breaking our commitments with bondholders who joined the debt restructuring,” the Minister said.
Kicillof reiterated the government’s willingness to pay the 92,4% of restructured bondholders by June 30. The minister said that in order to pay, the government needs a stay on Griesa’s ruling.
The Kirchnerite official considered the stay of of paramount importance for Argentina “to continue to pay restructured bondholders normally and dialogue in equitable conditions”.
“Just like the President said, we want to pay 100% of bondholders in equitable, fair and legal conditions, we want to comply with restructured bondholders, but in compliance with the National Constitution, [Argentinean] laws and contracts signed with restructured bondholders, that is a 92.4% that willingly joined the debt restructuring,” Kicillof said.
“We need to be able to pay the next [debt’s] deadline in equitable, fair and legal conditions,” he reiterated.