Arab Today, arab today argentinas kirchner wants just and equitable deal on debt
Last Updated : GMT 08:37:55
Arab Today, arab today
Arab Today, arab today

Argentina's Kirchner wants 'just and equitable' deal on debt

Arab Today, arab today

Arab Today, arab today Argentina's Kirchner wants 'just and equitable' deal on debt

Cristina Fernandez de Kirchner
Buenos Aires - AFP

Argentine President Cristina Kirchner signaled her willingness to enter negotiations on the country's debt, as the country faces a potential default at the end of the month.
But a US federal judge ordered Buenos Aires to pay holdout hedge fund bondholders in the United States, not Argentina.
Argentine Economy Minister Axel Kicillof has proposed that Argentina initiate steps to carry out a debt exchange inside the country.
But US District Judge Thomas Griesa ruled that the move was "in violation" of the court, and that "Argentina is prohibited from carrying out the proposal."
Four days after the US Supreme Court decided against Argentina in its fight against hedge fund bond holders, Kirchner said her country has "the right and the need to participate in a negotiation that is just and equitable."
"We want to honor 100 percent of the creditors, the 92.4 percent who renegotiated in 2005 and 2010, and those that didn't. We only ask them for conditions that are fair," she added.
The top court's decision set the clock ticking for the country to pay back "holdouts," who refused to join the majority of creditors in support of the restructuring several years ago of nearly $100 billion of defaulted debt.
Most creditors accepted large writedowns of the bonds, but the court ruling means Argentina now must pay the holdouts 100 percent of the debt's face value -- $15 billion in total.
With that payment now needed by June 30, Argentina says it could be forced to default on all its debt.
Since the Supreme Court ruling on Monday, the country has sent mixed signals, that it would turn to a "Plan B" to move the restructured debt away from US law, and avoid paying the holdouts, and also that it would negotiate over the issue.
Kirchner said Friday she wants Argentina's lawyers to ask Griesa, who originally handled the case, to set conditions for a negotiated settlement that would respect both US and Argentine laws.
On Wednesday, Griesa questioned Argentina's willingness to pay and whether, after a decade fighting the holdouts, resisting negotiations and stalling on meeting court rulings, it was truly willing to deal.
"You can talk about negotiations. But I believe there has to be a legal mechanism to prevent what I'm talking about, because we do not want another charade," 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 argentinas kirchner wants just and equitable deal on debt Arab Today, arab today argentinas kirchner wants just and equitable deal on debt

 



Arab Today, arab today
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 Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016

GMT 05:15 2017 Tuesday ,21 February

Gold firms as markets await Trump tax plans

GMT 04:58 2017 Tuesday ,21 February

EU, IMF in ‘common position’ on Greece crisis
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
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 Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

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 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
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