Arab Today, arab today argentina summons us diplomat over default comment
Last Updated : GMT 10:17:01
Arab Today, arab today
Arab Today, arab today

Argentina summons US diplomat over 'default' comment

Arab Today, arab today

Arab Today, arab today Argentina summons US diplomat over 'default' comment

US Judge Thomas Griesa and vultures behind bars
Buenos Aires - AFP

Argentina summoned the acting American ambassador over his comments on its failure to repay debt tied up in a US legal battle, protesting his use of the word "default" and accusing him of trampling on the country's sovereignty.
Kevin Sullivan, the charge d'affaires and top-ranking diplomat at the US embassy in Buenos Aires, told Argentine newspaper Clarin that it was "important for Argentina to exit default as soon as possible to return to the path of growth and attract the investment it needs."
That touched a raw nerve in President Cristina Kirchner's government, which denies it is in default and blames the US for failing to rein in a federal judge who has blocked Argentina from paying its restructured debt until it settles its $1.3 billion dispute with two US hedge funds.
Sullivan's comments were "incorrect, unfortunate and inappropriate," cabinet chief Jorge Capitanich told journalists.
"They constitute undue interference in the country's sovereignty."
The foreign ministry had summoned Sullivan for Tuesday, he said.
"We consider that (Sullivan's) comments are incorrect because Argentina pays and fulfills its obligations," he added.
"The impediment some bondholders have had (in collecting interest payments) doesn't come from Argentina. It's an objective problem created by a judge who's obstructing the payment process."
Argentina persuaded the vast majority of its creditors to accept 70 percent losses on the face value of their bonds after it defaulted on $100 billion of debt during its 2001 economic crisis.
But two hedge funds, US billionaire Paul Singer's NML Capital and US-based Aurelius Capital Management, refused to accept the write-down and took the country to court.
They won a ruling from US federal Judge Thomas Griesa ordering Argentina to pay them in full and blocking it from repaying other creditors until it does.
Barred from servicing its debt, Argentina missed the July 30 deadline for a $539 million interest payment, entering what ratings agency Standard & Poor's called "selective default," Fitch called "restrictive default" and Moody's simply called "default."
Foreign Minister Hector Timerman insisted that his country "has no debts that are in default with the United States, or any other nation."
Sullivan said the United States did not support Argentina's bid to create a UN convention that would prevent a minority of creditors from derailing debt-restructuring plans for countries in trouble.
"We don't support the debate at the United Nations because it does not seem to us the right forum to find an efficient solution," he said.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today argentina summons us diplomat over default comment Arab Today, arab today argentina summons us diplomat over default comment

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday