Buenos Aires, Oct 27 (Reuters) .- The decision of the American judge Thomas Griesa Citibank authorize the payment of the bonds in dollars under Argentina law has given a respite to the government of Cristina Fernández, in the conflict over payment sovereign debt that was in default after the crisis of 2001.
Griesa Friday authorized Citibank to pay bondholders debt issued in dollars under Argentina law even gave thirty day period to hedge funds to try to reverse this decision.
Although the judge did not issue Griesa final judgment, the bank will avoid time penalties facing the Argentine authorities had threatened to impose on Citibank should not pay the September 30, the date on which a new term to maturity of debt is satisfied.
The decision of the judge closed a week in which the Executive Fernandez complaints raised by the United Nations in litigation maintained with vulture funds, claiming the South American country in the courts of the United States the full payment of $ 1,300 million, plus interest.
Speaking at the plenary of the General Assembly of the UN Wednesday, Fernandez called hedge funds “economic terrorists” and called for the adoption of a new legal framework for debt renegotiations.
The president complained that Argentina is being “harassed” by the vulture funds “with the complicity of the judiciary” American, specifically by Judge Griesa.
Those funds, he said, are dedicated to buy securities of countries into receivership and then “sue” and profit ” exorbitant “, coming here to seek a return” of 1,608 per cent in five years, in dollars. “
Also in the framework of the UN General Assembly, Assistant Secretary of State States for Latin America, Roberta Jacobson, admitted Friday that the relationship with the South American country is going through a “difficult period.”
Jacobson, however, pointed out that the dispute remains the Argentine government and funds bilateral investment is not a political issue but a legal issue.
Similarly, the German embassy in Buenos Aires on Friday the government dissociated from the European country of controversial advertising promoted by hedge funds against Argentina in which words of a German minister was quoted.
Embassy sources consulted by Efe said that the European country has “no relationship” with what happened and stressed that relations between the two countries are “traditionally good” .
The “friction” diplomatic with both countries have been criticized by two of the leading candidates to succeed Fernandez in front of the Argentine government in the presidential election of 2015.
“We leave the world and in a couple of hours we had a fight with the United States and Germany. That’s not the way, “party leader Republican Proposal (Pro) and current mayor of Buenos Aires, Mauricio Macri, told a local radio said today.
For his part, Deputy Front Renewal Sergio Massa said that “the economic fate of the world Argentina is not against the world” and warned that “relations with countries like the United States and the EU are fundamental.”
Litigation in New York courts with hedge funds also rose this week exchange tension in the South American country.
The value of the dollar on the black market, which flourished after the restrictions imposed in 2011 addressed this Wednesday to a record 15.95 pesos per unit, while the official rate remains for weeks at 8.41 pesos, which the gap is almost 90%.
Argentina is immersed in a dispute over payment of sovereign debt that was in default after the crisis of 2001 due to litigation in the United States with a group of hedge funds that do not accept the acquittals of restructuring in 2005 and 2010 (accepted by 92 4% of the bondholders) and collect the full amount claimed.
The Thomas Griesa York judge ruled in favor of the litigants, but Argentina claims that it can not enforce the judgment because unleash a barrage of demands from other bondholders. EFE
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