July 29, 2014
Kicillof to 'raise awareness' on anti-debt restructuring rulings at United Nations
Cabinet Chief Jorge Capitanich referred to Economy Minister Axel Kicillof’s presentation at a G77+China meeting at the UN headquarters scheduled for today, saying Argentina will seek to “raise awareness” about the impact of judicial decisions in debt restructuring processes.
“Argentina aims to defend public sovereign debt restructuring strategies,” the Kirchnerite official explained in his daily press briefing at Government House.
Capitanich also stressed that the government has been reducing its private external debt in the past decade with the agreement of 92,4% of hedge funds. “1% [of hedge funds] went to Court to alter and harm the [debt restructuring] process,” he said referring to holdout hedge funds favoured by Thomas Griesa’s ruling.
“We are working to raise awareness in the international system regarding the significance and consequences of the proliferation of judicial decisions that could alter debt restructuring processes,” Capitanich said.