MercoPress. South Atlantic News Agency
Argentina promulgates bill which allows for payment of accord with bondholders
The Argentine government made official the accord reached with the holdout funds sponsored by a New York federal court, to pay for defaulted bonds in a fifteen year litigation, following the approval of the bill by the Senate. This means Argentina can now look for funds in the international monetary market. Read full article
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Disclaimer & comment rules“...This means Argentina can now look for funds in the international monetary market....”
Apr 03rd, 2016 - 08:03 am - Link - Report abuse 0Sorry, but first pay - than look!
@1 They are planning to borrow more money to pay for the money that they borrowed but didn't pay for.
Apr 03rd, 2016 - 12:13 pm - Link - Report abuse 0#2 Marti.llazo
Apr 04th, 2016 - 06:03 am - Link - Report abuse 0Didn't you know it? Having the country heavily indebted is the whole purpose of the exercise. Macri's entire government plan lies on heavy borrowing, as the dominant class in Argentina has always done. They never plan on paying back but in borrowing some more. The wealthy become wealthier as associated with lenders, and the populace is left to pay for the broken China. Nestor Kirchner, who negotiated realistic haircuts and then paid everybody in time while growing the economy, and Cristina Fernandez, were total anomalies for our traditionally cheated and victimized country.
Nestor Kirchner didnt negociate anything. He just pushed 70% loss on bonds down the people's throat.
Apr 04th, 2016 - 09:12 am - Link - Report abuse 0I hope you're not one of these bondholders.
4 “moderator”
Apr 04th, 2016 - 01:05 pm - Link - Report abuse 0The difference was, Nestor Kirchner got the best possible deal for the country that had elected him. He had no business on the bondholders' behalf.
However, watch today's news about the Panama Papers' giant leak.
President Macri appears in the company of Putin, Syrian President Bashar Assad and others hiding assets in a big money-laundering, tax-evasion scheme.
The Casa Rosada has issued a communique saying that “there was no crime” involved.
@5 Néstor cheated hundreds of thousands of creditors, including thousands or Argentine elderly pensioners, many of whom died before getting any money.
Apr 04th, 2016 - 03:19 pm - Link - Report abuse 0When it comes to corruption, nobody can hold a candle to Peronismo. The courts in Argentina are soon going to start filling up quickly with prosecution of the corrupt Kirchneristas (I know, that's redundant). A former transport minister is already behind bars. Watch this space.
#6 Marti Llazo
Apr 05th, 2016 - 06:09 am - Link - Report abuse 0Néstor got Argentina and the country's creditors a reasonable deal for a debt he did not create (it was defaulted in 2001, two years before he became president) and that deal allowed lenders to get, at least, part of their money back.
Néstor cheated nobody my friend.
Just in case you don't know, lenders share responsibility with borrowers--that is why debt restructuring processes exist for countries and bankruptcy exists for individuals and companies.
About the current pres now: Martillazo remains strangely silent about the recent Panamá Papers' disclosures that include Macri's undeclared participation in shell companies in tax havens.
Two wrongs do not make a right. If Martillazo so eloquently speaks about the suspected Kirchnerista corruption (which the courts will no doubt address) one would expect a word about the current president's unconvincing explanations. Perhaps Martillazo--as well as other MP commenters--believe some people have rights to cheat that others don't?
@6 “Néstor cheated hundreds of thousands of creditors, including thousands or Argentine elderly pensioners, many of whom died before getting any money.”
Apr 05th, 2016 - 09:01 am - Link - Report abuse 0Agree, thats what he stands for. He was just a thief.
@7 In another thread we have discussed the findings of the Argentine government concerning Macri's participation, and the evidence presented by the government is that there is no crime in being a director who is not a shareholder, nor is there any legal requirement to report such a participation.
Apr 05th, 2016 - 02:24 pm - Link - Report abuse 0So reekie, you are found full of bosta once again.
On the other hand, concerning corruption on the Kirchnerist side, in another thread I pointed to a news report that one of the Kirchnerist cabinet members is already behind bars.
Two strikes, reeKKie.
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