Take Cristina Kirchner’s Word For It


She may be running out of dollars, and the new civil code her party just rammed through may technically allow it to pay its debts in its increasingly worthless currency. But she promises you that Argentina would never do something so underhanded as that.

Investors fretted that certain clauses in the bill might give debtors, including the federal government, the option of paying their foreign currency debts with Argentine pesos.

“In monetary matters, this civil code gives certitude, security and certainty for everyone: for depositors, for banks, for users, for consumers,” Mrs. Kirchner said.


Argentina Seeks to Assure Savers, Creditors on Civil Code [WSJ]