“The US does not support the debate at the United Nations because we do not think it is the right place to find an efficient solution,” the official said in an interview with Clarín newspaper. “It would be much better to work with existing market mechanisms to issue sovereign debt rather than creating a UN convention or going to The Hague,” he added.
Last week, the UN voted overwhelmingly in favour of a legal framework to regulate the foreign sovereign debt restructuring, by 124 votes in favour. The US and its major allies voted against it.
The US official said that “it is important for Argentina to exit default as soon as possible, for it to return to the path of sustainable economic growth and attract the investment it needs.”http://www.buenosairesherald.com/article/169828/us-does-not-support-the-debt-debate-at-the-un
15/9/14
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Related:
Argentina/fondos buitre: UN assembly approves creation of debt restructuring framework
La Grèce s’abstient de voter pour la protection des pays endettés...
Argentina passes law to pay off bonds outside US
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Timerman meets Sullivan, warns of 'most severe measures' in default comments spat...
ReplyDeleteUnited States interim ambassador to Argentina Kevin Sullivan was summoned by Héctor Timerman, a statement by the minister’s office has confirmed adding the Argentine official “expressed the profound and firm rejection of the Argentine government to the US diplomat’s inappropriate statements.”
In an interview published yesterday in the CLarín newspaper, Sullivan said his country did not support the debt restructuring debate at the United Nations “because we do not think it is the right place to find an efficient solution.”
"It is important for Argentina to exit default as soon as possible, for it to return to the path of sustainable economic growth and attract the investment it needs,” he added.
According to the Foreign Ministry, Mr. Timerman conveyed to Mr. Sullivan today that “Argentina has honoured all its commitments in due time and form under the conditions agreed in 2005 and 2010 and will continue to do so.”
Tuesday’s statement adds that the Barack Obama administration “is aware of the perverse consequences” that Judge Thomas Griesa’s ruling entails, “just like it expressed it in April 2012 during its presentation as amicus curiae of the Republic of Argnetina.”....................http://www.buenosairesherald.com/article/169916/timerman-meets-sullivan-warns-of-most-severe-measures-in-default-comments-spat
16/9/14
No official US response after Sullivan diplomatic row - Capitanich...
DeleteCabinet 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.
http://www.buenosairesherald.com/article/169986/no-official-us-response-after-sullivan-diplomatic-row--capitanich
17/9/14