1. Main
  2. Learn
  3. Economy
  4. Finance

At UN, Argentina's Kirchner slams debt 'vultures'25 сентября 2014, 13:48

At UN, Argentina's Kirchner slams debt 'vultures' At UN, Argentina's Kirchner slams debt 'vultures'

 Argentine President Cristina Kirchner, addressing the UN General Assembly on Wednesday, lashed out at "vulture funds" that are pursuing her country for payment on Argentine bonds they hold, AFP reports.

But she said her government, which fell into default on its borrowings at the end of July due to a US court ruling supporting the funds' complaint, would make good on its debt whatsoever.

Argentina is "a country that is willing to pay and is able to pay. And will pay despite the harassment of the vulture funds," she said.

Argentina is still struggling with the aftermath of a default on nearly $100 billion in debt in 2001, with the two hedge funds it labels vultures battling the country in US courts.

Kirchner blamed as well the "complicity of the US justice system" in supporting the claims of the hedge funds, which bought defaulted Argentine debt on the cheap, and then sued the government for full payment in US federal court after refusing to join most of the country's creditors in restructuring its debt.

A New York judge has forbidden the country from servicing its mainstream debt unless it first pays at least $1.3 billion to the hedge funds.

The judge also blocked agent banks from transferring debt service payments from Buenos Aires to its regular creditors, creating a complex legal battle that has set back the struggling Argentine economy and prevented it from accessing global capital markets.


Nobel prizewinner proposes a new city in KZ
New abnormal snowfalls expected in Kazakhstan
Huge glacier retreat triggered in 1940s
Hyperloop construction begins in Las Vegas
"Moonlight" to top Spirit Awards nominations
Oil prices fall due to investors uncertainty
New dwarf galaxy discovered around Milky Way
Kanat Islam becomes a top ten WBO boxer
World oil prices continue to rise
Kazakhstan expects warming - Kazhydromet
Merkel to seek fourth term as chancellor
Sale of Tintin drawings set to break records
US, EU stocks fall as markets focus on dollar
Pacific leaders urged to defend free trade
EU warns eight nations on budget deficit
Universiade-2017: Athletic Village is ready
Bob Dylan can't make Nobel ceremony
Messi will never leave Barca - club president
Google, Facebook take aim at 'fake' news
Aerosmith announces Europe 'farewell' tour
Putin, Trump to normalise US-Russia ties
At least 10 hurt in southern Turkey blast
6.2 quake hits western Japan