President Cristina Fernández de Kirchner today headed a government rally in the Casa Rosada presidential palace, delivering a message that was broadcast nationwide.
Cristina Kirchner signed a debt extension agreement with provincial authorities, representing a more-than-expected truce and key relief for provinces in their debt obligations with the federal government, weighed down with electoral commitments and heading also towards the payment of workers’ June bonus.
17 governors were called to take part in today’s rally launching a new extension of a plan that was created in 2010 seeking to help provinces in getting out of the red.
Among the governors present in the governmen house were Daniel Scioli (Buenos Aires province), Sergio Urribarri (Entre Ríos), José Luis Gioja (San Juan), Lucía Corpacci (Catamarca), Eduardo Fellner (Jujuy), Luis Beder Herrera (La Rioja), Daniel Peralta (Santa Cruz), Maurice Closs (Misiones), José Alberovich (Tucumán), Fabiana Ríos (Tierra del Fuego), Ricardo Colombi (Corrientes) and Jorge Capitanich (Chaco).
In her speech, Ms. Kirchner renewed the government’s position against so called “vulture” funds suing the country over its defaulted bonds more than a decade ago.
The president’s statements followed an announcement made on Monday that NML Capital, Aurelius Capital and Blue Angel requested US Judge Thomas Griesa to make bonds that were issued last month subject to Griesa’s first ruling ordering Buenos Aires to pay hedge funds in full.
“Let’s not be afraid; they told us that if we did not pay vultures we would not have access to markets. We want to pay all but we want to do it in fair conditions (respecting) those who trusted us in the 2005 and 2010 debt swaps; not under usurious rates because we have national dignity,” the head of state affirmed.
“Brussels wants to become an example of anti-vulture legislation. It was us who took that flag to the world. In the past, we talked about financial markets as if they were something abstract. We put them a name to what takes people to indebtedness, to ministers telling workers that they can only increase their salaries by 1.6 percent in three years,” Cristina Kirchner said adding her administration managed to rally key international support to have a multilateral legal framework for sovereign debt restructuring processes adopted by the United Nations.
Source: Buenos Aires Herald