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November 27, 2014
Friday, August 1, 2014

'No favourable expectations due to Griesa's biased position'

Cabinet Chief Jorge Capitanich answers to reporters'' queries at the government house.

The government has low expectations of today’s new hearing called by US District Court Thomas Griesa with Cabinet Chief Jorge Capitanich saying the magistrate has proved a “biased” position in Argentina’s debt dispute with so called "vulture funds".

“We can not have favourable expectations because (Thomas Griesa) has always had a vision of biased nature. But he has to resolve pending issues that have to do with the multiple players involved in this payment process,” the head of ministers told reporters today during his daily briefing to the press.

At the government house, Capitanich also renewed Argentina long-standing stance about the South American country defaulting this week. “We have made a deposit for creditors to receive their money. Argentina pays, Argentina fulfills (its cobligations), it deposited the money. The fiduciary agent is the one responsible for transferring (the money) to creditors,” the ex governor of the Chaco province affirmed referring to a payment Argentina made in recent weeks in the Bank of New York Mellon to service its debt obligations with bondholders (92 percent of the country's total creditors) that agreed to enter the 2005 and 2010 restructurings and that resulted blocked by Griesa until a settlement is reached on the u$s1.3 billion the US judge ordered to be paid to hold-out creditors or "vulture funds".

Following the failure in negotiations, it was announced yesterday that Thomas Griesa was calling for a new hearing for today at noon “regarding the recent default by the Republic of Argentina.”

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Tags:  Jorge Capitanich  cabinet chief  Thomas Griesa  vulture funds  expecations  favourable  biased  





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