ARGENTINA: President Cristina Fernandez says it will pay $3.52 billion in debt as scheduled

Record ID: 447190

  • Title: ARGENTINA: President Cristina Fernandez says it will pay $3.52 billion in debt as scheduled
  • Date: 14th December 2012
  • Summary: BUENOS AIRES, ARGENTINA (FILE) (REUTERS) (*** FLASH PHOTOGRAPHY ***) VARIOUS OF PRESIDENT CRISTINA FERNANDEZ ATTENDING A 2012 BODEN BOND DEBT PAYMENT EVENT AT THE CENTRAL BANK
  • Embargoed: 29th December 2012 12:00
  • Keywords:
  • Location: Argentina
  • Country: Argentina
  • Topics: Politics
  • Reuters ID: LVA86YGSME8JA953ANARNGSJNAOJ
  • Story Text: Argentine President Cristina Fernandez on Thursday (December 23) said the South American country will pay $3.52 billion to holders of the country's GDP warrants as scheduled.
    "Tomorrow, Argentines against all forecasts, what's more, against all the tricky manoeuvring, and all the strategies that were developed from inside and out, to make us fail, tomorrow Argentina will pay $3.52 of debt," Fernandez said.
    That debt payment, scheduled for Monday, was thrown into doubt by an October U.S. court ruling that said the country violated a bond provision requiring it treat all creditors equally when it paid the exchange bondholders without paying "holdout" creditors who spurned the debt restructurings and sued to be paid in full.
    However, an appeals court granted Argentina a reprieve last month, quelling fears of a default on Monday's GDP warrant payment that arose from the idea that U.S. courts could have disrupted the payment to enforce the October ruling.
    Rumours of a possible default made some investors uneasy and conjured up memories of Argentina's 2001-2002 peso crisis.
  • Copyright Holder: FILE REUTERS (CAN SELL)
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