November 20, 2014
BA City Mayor Macri urges the gov't to pay holdout bondholders
The mayor of Buenos Aires City Mauricio Macri reiterated his belief that Argentina should “comply with [US Judge Thomas Griesa’s] ruling” that orders the country to pay holdout hedge funds in full by Wednesday.
“I have said this since day one. We took this to court, we lost and now, even if we are annoyed by the attitude vulture funds take, we have to comply with the judicial ruling. We have to go and negotiate the best possible conditions for Argentina in Griesa’s court and solve the problem,” Macri said.
“Either we pay 100% [of bondholders] or having paid the 91% [sic] is useless,” the mayor said referring to the 92,3% of bondholders that agreed to the country’s debt restructuring in 2005 and 2010.
Macri called to “solve the matter somehow” and stressed the importance of “not punishing Argentineans” by not complying with Griesa’s ruling.