July 22, 2014
‘A tiny group of vulture funds won’t alter growth and social inclusion’
In his daily press briefing, Cabinet Chief Jorge Capitanich bashed holdout hedge funds, saying “the deliberate actions of a tiny group of vulture funds will not alter the economic growth, social inclusion and distributive equity of a sovereign country”.
In a brief review of the history of Argentina’s sovereign debt from 2001 to the present, Capitanich said “vulture funds existed prior, during and now” and that it did not prevent the government from working towards economic growth, jobs creation and social inclusion.
“This is a deliberate action of a tiny group of vulture funds. They are vultures precisely because they do not negotiate, they seek to maximize their stance,” Capitanich said adressing the recent US Supreme Court decision to reject Argentina’s appeal in the legal dispute with the so-called vulture funds.
The Kirchnerite official stressed that the government’s strategy in its battle with holdout hedge funds aims to “defend the national interest”.