ARGENTINA: President Fernandez address debt issue as U.S. court considers appeal

Record ID: 447323

  • Title: ARGENTINA: President Fernandez address debt issue as U.S. court considers appeal
  • Date: 27th November 2012
  • Summary: BUENOS AIRES, ARGENTINA (NOVEMBER 27, 2012) (REUTERS) ( ** BEWARE FLASH PHOTOGRAPHY **) VARIOUS OF PERUVIAN PRESIDENT OLLANTA HUMALA'S ARRIVAL AT THE ARGENTINE GOVERNMENT HOUSE
  • Embargoed: 12th December 2012 12:00
  • Keywords:
  • Location: Argentina
  • Country: Argentina
  • Topics: International Relations,Politics
  • Reuters ID: LVA55Q65ENE7QU04VQQF324N1Q8N
  • Story Text: Argentine President Cristina Fernandez warns other nations on debt spat as Peruvian president visits; Humala appeals for maritime dispute with Chile to be resolved peacefully.


    Argentine President Cristina Fernandez welcomed her Peruvian counterpart, Ollanta Humala in Buenos Aires on Tuesday (November 27).
    Humala's visit came as Argentina awaited the outcome of an appeal in a U.S. court over an order saying it must pay 1.3 billion U.S. dollars to bondholders who rejected two debt restructurings stemming from the 2002 financial crisis.
    President Fernandez said the debt issue should be a warning to other nations.
    "It is an issue that is affecting Argentina today but if one looks a little bit ahead, although not too far ahead, it's a problem that should not only interest Argentina or other South American countries, but should also interest all the countries in the world. Above all, the developed countries that today are having similar crises and perhaps worse ones than the one we face regarding sovereign debt," said Fernandez.
    Argentina say the repayment ruling would result in the "destruction" of its debt restructuring.
    During their meeting, Fernandez and Humala signed cooperation agreements on education, drug trafficking and financial intelligence exchanges.
    President Humala spoke about a lingering maritime dispute with neighbouring Chile which will soon be turned over to the International Court of Justice at The Hague for a ruling.
    "We believe that differences that exist between brother nations have to be resolved peacefully with international law. We believe that respect for our peoples and the respect for the sovereignty of our nations are important and that together we must create mechanisms that help us defend our sovereignty and our people's right to self-determination," said Humala.
    Humala will address the Argentine Congress later on Tuesday.
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