Argentina’s President Cristina Fernandez said that her country will not fall into cessation of payments because it has already made a deposit to the creditors of its restructured debt, although these have not received funds for litigation in New York with investment funds.
“Argentina will not be into default (suspension of payments) for a simple, essential, fundamental reason: into default are non-payers and Argentina paid,” Fernandez said.
On June, 26, Argentina made an expiration payment of its restructured debt for $ 1.151 billion, of which 539 million were deposited in the Bank of New York Mellon (BNY) for investors with bonds issued under U.S. legislation .
But those funds were blocked by order of New York Judge Thomas Griesa, who ruled in favor of investment funds which sued Argentina by bonds defaulted from late 2001 and did not enter to the exchanges of 2005 and 2010.
“They’ll have to find a new term that reflects that a debtor already paid and someone blocked it and do not let that money get in,” Fernandez said.