November 1, 2014
'If they had good faith, they would consider need for a stay'
In his daily brief to the press, the cabinet chief accused vulture funds of acting in “bad faith” and called US District Judge Thomas Griesa to allow "necessary negotiating time" in order to settle a 1.3 billion dollar dispute that has raised fears of default over the past weeks in Argentina.
“We observe an attitude of bad faith from vulture funds. If they had good faith, they would consider the need to suspend the execution of the sentence to have necessary and enough time in which conditions for an approach can be reached through dialogue,” head of ministers Jorge Capitanich said.
Addressing reporters at the government house this morning, Capitanich renewed Argentina’s call for a stay that would permit the “restructuring of the total debt with bondholders.” “The suspension of the sentence execution does not imply the alteration of the sentence,” he warned.
According to the ex governor of the Chaco province who left office back in December to assume as Cristina Fernández de Kirchner’s cabinet chief replacing Juan Manuel Abal Medina, the debt dispute could be settled “in a very simple way if there was a good faith-attitude from vulture funds and a rational, very moderate stance from the judge in order to create the conditions for Argentina to enter into the last phase of negotiating conditions.”
The position of both vulture funds and Judge Griesa, Capitanich insisted, are “clearly” meant to “crush” Argentina’s debt restructuring.