Wednesday, August 27, 2014

"Argentina is under speculative attack" (Cabinet Chief Jorge Capitanich)

After the US dollar informal rate broke a new record yesterday, advancing 22 cents to 14.20 pesos, Cabinet Chief Jorge Capitanich accused vulture funds of carrying out “speculative attacks against the (peso) currency” to “systematically erode the government’s credibility and trust.”
The chief of ministers pointed out that the vulture funds act through “powerful international lobbies” and local “opposition leaders, unions and concentrated media groups” to carry out “insidious attacks” against President Kirchner and her government.

He added that vulture funds also act through financial groups and said that “Argentina has suffered a very clear speculative attack in the first months of the year (…) and is suffering a continuos speculative attack through the ‘blue’ dollar.”

“The government is not willing to pay a ruling for a 1600% gain that seeks to destroy the debt restructuring process,” the official stressed during his daily press briefing at government house.

1 comment :

  1. No official US response after Sullivan diplomatic row - Capitanich...

    Cabinet chief Jorge Capitanich said there has been no formal response from the US government following Argentina’s dispute with interim ambassador in Buenos Aires Kevin Sullivan over an alleged “intrusion into domestic affairs”. He also ratified its criticism against Washington for its responsibility for Judge Thomas Griesa’s ruling in favour of Argentina’s holdout creditors.

    “The US response was silence,” Capitanich said in his daily press briefing at government house. The official reiterated once again the government’s allegation of Obama Administration’s accountability for Griesa’s ruling.

    “I would like to ratify our country’s stance,” the chief of ministers said. “Argentina condemns (Sullivan’s) comments for a very simple reason: Argentina honours its commitments and pays. We reject any talk of default on its debt,” he added.

    US Charge d’Affaires Sullivan had urged Argentina to “exit default as soon as possible” in an interview on Monday, sparking the government’s indignation that lead to threat to expel the diplomat from the country.


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