The President explained that it will be a “sustainable” offer for dollar obligations. “I don’t want to commit to signing something unfulfilled,” he said.
President Alberto Fernández announced today that “in the next few days” the government will make an offer “that can be met and sustainable” for the payment of the foreign debt in dollars and confirmed that “there will be no type of restructuring” for the segment in pesos.
Fernández said that “the negotiation is going well” and clarified that “I do not want to commit to signing something unfulfilled.”
“The coronavirus affects debt renegotiation, as it affects the entire global economy. The negotiation is going well. In the next few days we will make the offer. I do not like to lie, nor do I like to lie to creditors. What we are going to signing is something that we can fulfill as a government and as a country, “he said.
“I don’t want to commit to signing something unfulfilled. We are going to make an offer that can be sustained over time. An offer that we know we will be able to fulfill, knowing the situation in which Argentina will be after the coronavirus, “he insisted.
Fernández also warned that “it will be as demanding as it takes to be able to pay. What there is not going to be is any kind of debt restructuring in pesos. We are going to fulfill the debt in pesos because it is with people who trust in the Argentine currency. “
Asked if this sustainability requires a greater reduction than when there was no coronavirus, he replied, “Yes, we could say it”, but immediately clarified that “this greater demand can be expressed in different ways. It can be expressed in reductions or it can be expressed in time”.
The President appealed to examples from Europe to maintain that the problem is global: “The European Central Bank has just opened lines of credit for Spain, for Italy, to try to save the conflict that was generated. The economy is turned around and the world is turned. The values we were handling no longer exist. We have to see how to get out of this problem orderly and quickly. “
“Actually March 31 was the time because after March maturities were coming. And I warned that the subsequent maturities were not going to be able to be paid. Now the deadlines are given within everything to be able to make the offer and start the discussion I am confident that we will be able to carry the discussion forward well and to do what is most convenient for Argentina, “he warned, according to Télam.
Regarding inflation, he considered that “it should not be the problem in the coming time. If the World Trade Organization says that this activity can fall by up to 38%, the truth is that all consumption will fall. Yes so, the logic would be for inflation to slow down or fall. We should expect more disinflation than inflation. “
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