For the I-can’t-remember-how-manyeth time, a U.S court has ordered Argentina to do something it doesn’t want to do, calling the country a “uniquely recalcitrant debtor” and blasting its “intention to defy any rulings of this Court… with which they disagree.” And, right on cue, entering stage left, the Uniquely Recalcitrant Debtor, in the form of Argentine Economy Minister Hernán Lorenzino:
Argentine Economy minister Hernán Lorenzino said that the New York appeals court ruling supporting Judge Thomas Griesa decision in favour of paying the hedge funds the 1.3bn dollars they are demanding, was an “attempt to take the country back to 2001”.
“We will carry on paying as we have done up until now, with the same terms,” the minister fired after learning of the ruling passed in New York by the Appeals Court.
Lorenzino claimed that there were sectors of Argentine society “who want Argentina to become indebted once more to see our people on their knees again, but they will not succeed.”
Argentina defiant of bonds’ case latest ruling: ‘they want to take us back to 2001’ [MercoPress]
Court Rules Against Argentina in Bond Case [WSJ]