Argentina President refused default in payments

Argentina’s President Cristina Fernández spoke on the suspension of payments after the failure in the negotiations with the funds litigated in U.S. courts. “Preventing that someone pays is not default,” she said.

The ruler refused again that the country entered in suspension of payments (default)

But the situation is uncertain, since the rating agency Standard & Poor’s (S & P) declared the selective default to the country due to the deadline on Wensday for a payment of $ 539 million of bonds exchanged in 2005 and 2010, which were blocked in New York by federal Judge Thomas Griesa.

The non-payment occurred after the failure of last-minute intensive negotiations through the judicial mediator Dan Pollack between an Argentinean delegation headed by the Minister of Economy, Axel Kicillof, and representatives of the funds.