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Argentina confirms its commitment to pay external debt
Posted On 17 Jun 2014
The president of Argentina Cristina Fernandez de Kirchner has qualified this Monday as “extortion” the Supreme Court´s decision of the United States by which the country would have to pay about 1,300 million dollars for hedge funds, known in Argentina as vulture funds.
However, the president has said that the country “will not suspend payments” and will meet its obligations.
“Argentina has willingness to negotiate, but it does not have to be subjected to such extortion,” added Fernandez de Kirchner.
The president has defined debt as “the most formidable stocks that attacked the growth and development of Argentina”, which “generated poor people, backwardness, lack of investment in infrastructure.”
The payment will have to be done after the U.S. Justice rejects to admit the appeal proceeding of the Argentine Government against previous judgments in U.S. courts.
