December 18, 2017
Tuesday, July 29, 2014

Scioli confident about settlement with holdouts

File photo of Buenos Aires province governor Daniel Scioli.
File photo of Buenos Aires province governor Daniel Scioli.
File photo of Buenos Aires province governor Daniel Scioli.

The governor of Buenos Aires province Daniel Scioli expressed confidence that an agreement with the so called vulture funds can still be reached. “I see last-minute positive signs,” he said.

“I am confident, as I have been since day one, before those who want to spread pessimism, create drama or build an apocalyptic scenario. I see last-minute positive signs,” the governor said during a radio interview, when asked about the recent decision of US Judge Thomas Griesa to allow Citigroup bank to process payment on dollar-denominated Argentine bonds held under local law.

Scioli rejected the idea of Argentina being at the brink of default. “There will be no long default, not even a default strictly speaking, which is when someone doesn’t pay,” he said.

The governor praised yesterday’s payment of the first installment of the agreement sealed with the country’s Paris Clubd creditors and pointed out that it shows Argentina’s willingness and ability to pay.

“There are many hours left,” he said referring to the deadline the judge set for tomorrow for Argentina to reach a settlement with its creditors. “There can be other alternatives, mark my words,” he added, optimistically.

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Tags:  Scioli  vulture funds  negotiation  Griesa  default  Argentina  

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