Argentina President defends agreement with the Paris Club

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The remarks came at the opening of works in the South American nation. (Photo Archive)

Argentina’s President Cristina Fernandez said on Saturday the country reached agreement with the Paris Club to cancel a debt of 9 billion 700 million dollars over five years, and defended the work of the Minister of Economy, Axel Kicillof .
“Many had questioned the youth minister, is actually an understatement to say that what bothers them is the conviction, the ideas that defends the people and interests of the motherland,” said the president during a public act of Inauguration works.
The president recalled that “when it began to take the Paris Club debt,” she was three and Kicillof “had not been born.” In this regard, he said, “then come to criticize those who conceived it like a joke,” he said.
He said the management of the minister, “the argument of the vulture funds were dismantled and the excuse of lack of funding is also just.” Kicillof led the negotiations that took place in Paris and ended on Wednesday with an agreement with the group of 19 creditor countries, most of them European.
Specifically, the agreement acknowledges a debt of 9000 to $ 700 million April 30, 2014. Also provides an outline of the full payment of the debt in five years, with an initial payment for principal of $ 650 million in July 2014 and 500 million in May 2015, plus interest. The next payment will be made in May 2016.Fernandez recalled that on Wednesday while awaiting the result of long negotiations, heard that “Argentina won by fatigue.” So he said, “surely Kicillof was holding as militants: hours and hours for the good of the nation.”