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China, Cuba ratify support to Argentina in VF dispute

The governments of China and Cuba have ratified their support to Argentina in its long-standing battle against vulture funds, a legal dispute that threatens to plunge the South American country into what the federal government has called the “euphemism” of a “technical default.”

In a press conference today, spokesman of the Chinese Foreign Affairs Ministry Hong Lei called for a “suitable agreement” to be reached “as soon as possible,” praising the “measures” the federal government has taken to restructure Argentina’s debt and “meet its payment commitments.”

Support from Beijing comes as the government there stopped so called “vulture funds” from taking their demands to collect unpaid debt acquired from African countries to Hong Kong courts in recent years.

Vulture funds, Malvinas and the Libertad frigate

Another nation to close ranks behind Buenos Aires was Cuba.

During a visit paid by Argentine Defence Minister Agustín Rossi to the island this week, the government commanded by Raúl Castro ratified its support to Argentina not only in its fight with holdout creditors that refused to enter the 2005 and 2010 debt swaps but also in the sovereignty dispute with the UK over the British-seized Malvinas Islands.

Rossi’s Cuban counterpart Leopoldo Cintra Frías expressed that country’s “firmest support to the Argentine position facing vulture funds and in the Malvinas cause.”

“Such forceful shows of political solidarity are welcomed in our country, that has showed its will to pay, to dialogue and to negotiate,” Rossi told reporters after visiting the ARA Libertad frigate, an Argentine navy ship that moors in the port of Havana for the first time in 41 years and that was seized in Ghana last year following a ruling by a court in that African country favouring same vulture funds suing Argentina over its defaulted bonds.

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Tags:  Cuba  China  vulture funds  Agustín Rossi  default  





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