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STORY: UN / ARGENTINA DEBT
TRT: 1.55
SOURCE: UNIFEED - UNTV
RESTRICTIONS: NONE
LANGUAGE: SPANISH / NATS
DATELINE: 25 JUNE 2014, NEW YORK CITY / RECENT
FILE – RECENT, NEW YORK CITY
1. Wide shot, exterior United Nations headquarters
25 JUNE 2014, NEW YORK CITY
2. Wide shot, pan right, General Assemby room
3. Wide shot, dais
4. SOUNDBITE (Spanish) Axel Kicillof, Minister of Economy and Public Finance of Argentina:
“Argentina would like to continue to pay its restructured debt. Argentina wants to continue to pay, but they do not let her. This is something that really never happened before. Why? Because we have certain conditions that have been imposed upon us, -which you will see- had consequences that will endanger not just the restructuring and not the external financial situation of the country but the economy as a whole. They are forcing Argentina to move towards a new default. The vulture funds are not just endangering our country, our people, they are endangering our rights to protect Argentineans from the actions of the international financial system.”
5. Wide shot, delegates
6. SOUNDBITE (Spanish) Axel Kicillof, Minister of Economy and Public Finance of Argentina:
“What we are asking for is that we don’t have just three days to solve this and run the risk of defaulting. We need to have just and fair conditions that deal with the interest –not just of those in litigation- but all of the bond holders. Those that entered into the restructuring. So, materially speaking, under this conditions this is very very difficult.”
7. Wide shot, dais and delegates applauding
The minister of Economy of Argentina Axel Kicillof told members of the Group of 77 (G-77) and China that Argentina respects its international commitments and wants to pay its debt.
Speaking today (25 June) at United Nations (UN) Headquarters, Kicillof said “Argentina would like to continue to pay its restructured debt. Argentina wants to continue to pay, but they do not let her.”
On 16 June, the United States (US) Supreme Court declined to hear Argentina’s appeal against a lower court's decision that had ordered it to pay suing "vulture" hedge funds $1.33 billion.
Kicillof said “this is something that really never happened before. Why? Because we have certain conditions that have been imposed upon us, -which you will see- had consequences that will endanger not just the restructuring and not the external financial situation of the country but the economy as a whole. They are forcing Argentina to move towards a new default.”
The Argentine minister noted that the “vulture funds” are not just endangering the country and its people, but also “they are endangering our rights to protect Argentineans from the actions of the international financial system.”
Kicillof stressed “what we are asking for is that we don’t have just three days to solve this and run the risk of defaulting. We need to have just and fair conditions that deal with the interest –not just of those in litigation- but all of the bond holders. Those that entered into the restructuring. So, materially speaking, under this conditions this is very very difficult.”
He explained that after the US Supreme Court’s decision, Argentina should pay on 30th June almost 1.5 billion dollars to the “vulture funds”.
The members of the Group of 77 and China expressed their support to Argentina in this issue.
The Group of 77 and China, established in 1964 by 77 States, now includes more than 130 countries, some two-thirds of the UN membership, and over 60 per cent of the world's population.
