Debt crisis: Argentina wants ‘just and equitable’ deal
US federal judge orders Buenos Aires to pay holdout hedge fund bondholders in US, not Argentina.
Afp
June 22, 2014
Less than a minute read
BUENOS AIRES:
Argentine President Cristina Kirchner signalled her willingness Friday to enter negotiations on the country’s debt, as the country faces a potential default at the end of the month. But a US federal judge ordered Buenos Aires to pay holdout hedge fund bondholders in the US, not Argentina. Argentine Economy Minister Axel Kicillof has proposed that Argentina initiate steps to carry out a debt exchange inside the country. But US District Judge Thomas Griesa ruled that the move was “in violation” of the court, and that “Argentina is prohibited from carrying out the proposal.” Four days after the US Supreme Court decided against Argentina in its fight against hedge fund bondholders, Kirchner said her country has “the right and the need to participate in a negotiation that is just and equitable. We want to honour 100 % of the creditors, the 92.4% who renegotiated in 2005 and 2010, and those that didn’t. We only ask them for conditions that are fair,” she added.
Published in The Express Tribune, June 22nd, 2014.
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