December 12, 2017
Monday, July 28, 2014

Capitanich says economic activity independent of vulture fund battle

Cabinet Chief Jorge Capitanich said “the economic activity is independent” of the outcome of the country’s legal battle against the vulture funds, asked about the impact in the country's economy in case an agreement is not reached with holdout creditors by Wednesday, as ordered by US Judge Thomas Griesa

After a brief review of the past decade’s debt restructuring process, Capitanich said they have is “no direct link to economic activity”. He mentioned the “highest rate of economic growth” in Argentina’s history took place precisely in the past decade, while the country was struggling to restructure its debt.

The Kirchnerite official showed confidence on the economic outlook and explained that it depends on other criteria, such as the country’s trade balance superavit, the influx of foreign currencies from direct foreign investments and the recent currency swap agreement with China.

Capitanich reiterated once again the government’s willingness to pay its debts and also stressed the importance of the suspension of Griesa’s ruling that orders Argentina to pay in full its holdout creditors by Wednesday, a request that the Judge has rejected three times already.

“Since 2001, Argentina has been working on a strategy of growth to honour its financial obligations,” the official said. “Throughout history, debt problems have affected almost all countries. These negotiations are complex and require time, that is why Argentina requests for a stay,” he explained.

  • CommentComment
  • Increase font size Decrease font sizeSize
  • Email article
  • Print
  • Share
    1. Vote
    2. Not interesting Little interesting Interesting Very interesting Indispensable
Tags:  Capitanich  economic activity  vulture funds  Griesa  debt  Argentina  

  • Comment
  • Increase font size Decrease font size
  • mail
  • Print



    ámbito financiero    ambito.com    Docsalud    AlRugby.com    

Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia