Region:
America
Category:
Economy

The OAS considers "essential" the restructuring of Argentina's debt

Region:
America
Category:
Economy
Publication date:
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Argentina today joined the OAS to support their claims against vulture funds

The Organization of American States (OAS) has supported the restructuring of Argentina's sovereign debt and stressed that it is "essential for the stability" of the international financial system. The OAS declaration has enjoyed the support of all its members, except the United States and Canada, according to the official news agency of Argentina Telam.

The OAS countries have given their "full support" to the solution of Argentina and have requested that the agreements are "respected". Argentina so hopes to end the problem of vulture funds to continue to pay its debt and meet its financial commitments, according Telam.

Canada has refused to sign the document OAS while the United States has said that the judicial system will continue to study the case. The Argentine Foreign Minister Hector Timerman, has lamented the position of these two countries, namely the United States, not to accompany "the consensus of the region."

Both Timerman as Economy Minister Axel Kicillof, thanks for the "overwhelming support" received by the other countries. Kicillof, meanwhile, also recalled in his speech that vulture funds are not only a problem in Argentina.

Brazilian Foreign Minister Luiz Figueredo, highlighted the "seriousness" with which Argentina has addressed the problem and has warned of the danger for the region may have a situation like this can be repeated in the future in other countries.

For the Minister of Foreign Affairs of Uruguay, Luis Almagro, for Argentina and the declaration signed by the OAS serves to "recognize the economic reality and set the time for economies to continue working."

traslation: Belén Zapata