August 28, 2014
‘Argentina has not defaulted, it will not default, Argentina pays”
Cabinet Chief Jorge Capitanich bluntly rejected once again any possibility of Argentina falling into default and reiterated the government’s willingness to negotiate, in response to a new ad published in local newspapers by the so-called vulture funds through the American Task Force Argentina (ATFA).
“Argentina has not defaulted, it will not default, it cannot default for one simple reason: Argentina pays and honours regularly and responsibly its commitments” Capitanich stressed in his daily press briefing. “This is undoubtedly a deliberate strategy to prevent bondholders to receive payments already deposited [by the government]”.
The official reiterated that Argentina has not entered technical default, as holdout hedge funds say, which he described as an “euphemism” developed by “national and international agents that intent to put Argentina in a place where it is not”. He also pointed out the irony in a alleged default “encouraged by creditors”.
Capitanich lashed out against vulture funds for their ads “pretending to advise” Argentina on the best course of action. “They are truly cheeky,” he said. “None of the vulture funds invested a cent in Argentina, on the contrary, they acquired [the bonds] at a vile price to engange in this sort of [legal] actions”.
However, he reiterated once again the government’s willingness to talk and referred to the open dialogue between the government and the court-appointed mediator Daniel Pollack, including the Economy Minister Axel Kicillof’s meeting with him in New York.
“Argentina’s stance is clear and convincing. It pays, it does not default,” the Cabinet Chief stated.