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October 31, 2014
Friday, July 25, 2014

No resolution in NY meeting, Argentine delegation returns to Buenos Aires

Argentine Finance Secretary Pablo López arrives at the office building of mediator Daniel Pollack in New York as talks continue into Argentina''s debt.

In a brief, closed-door meeting, US court-appointed mediator Daniel Pollack met today with representatives of Argentina to continue negotiations over the holdouts dispute.

According to first official reports, the reunion lasted no longer that an hour and a falf, the shortest of the three mediator Pollack has headed over the week, pushing for a settlement of a 1.3 billion dollar dispute threatening to plunge Argentina into default.

Pollack told reporters that talks at his office in New York were over for today and issued the following statement:

“I had a brief follow-up meeting this morning with the delegation from the Republic of Argentina. They will be returning to Buenos Aires tonight to confer with and seek further instructions from their Government. The Bondholders were not present this morning, but I briefed them subsequently by telephone. They reiterated to me their availability and willingness to meet with me, and, indeed, with representatives of the Republic, at any time. No resolution of the impasse between the parties has been reached. Consistent with Judge Griesa’s direction of earlier this week in open Court, I anticipate that there will be further communications with the parties prior to the Default date (July 30).”

The Argentine Economy Ministry later released another communiqué saying that "continuing with the dialogue process, we went into detail about the different aspects of the dispute and the possible different alternatives." It reiterated Argentina's willingness to advance towards a solution in "fair, equal, legal and sustainable conditions" for 100% of bondholders.

"The dialogue process opened with the mediator will continue within the next days," the statement concluded.

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Tags:  Argentina  Capitanich  debt  vulture funds  Griesa  US  





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