President Cristina Fernández de Kirchner today defended Argentina in front of the UN General Assembly, stating that the nation has been a repeat victim of shady financial entities such as the ‘vulture funds’ and assuring that it is prepared to honour debt commitments.
«We are not asking for anything, we are asking for the chance to pay. It seems absurd that we are not allowed to pay in a world falling apart, in a devastated Europe. Unless they want to punish us,» the head of state accused, referring to bondholders that refused previous debt swaps after the 2001 default, and who are currently locked in a bitter legal battle with the nation.
Since 2008, she added, «[vulture funds] purchased bonds for 40 million dollars for which they now demand payment, outside the creditors’ agreement, without deadline nor deductions, the entire amount of $1.7bn.»
Kirchner went on to suggest that Argentina’s past problems were a microcosm of what is happening across the world.
«Today we see in the world millions of unemployed, a situation similar to what Argentina went through in 2001,» she explained, before firing a warning to the Assembly.
«We have been repeat victims of lobbyists, of vulture funds, of those who bought bonds at knockdown prices, and that is the story of Argentina; but in a short time it could be the story of any other country.»
Source: Buenos Aires Herald