News Daily Spot: Kirchner: "It is impossible to pay off a debt if the economy does not grow the debtor country"

more news

Kirchner: "It is impossible to pay off a debt if the economy does not grow the debtor country"

The president of Argentina, Cristina Kirchner, was expressed from the podium of the 70th General Assembly of the United Nations (UN), where she welcomed the adoption of the nine guiding principles for the restructuring of external debts of countries .

"It was a very important win," Kirchner said about this approval, on September 10 with 136 votes, which she regarded as "significant" and said that these serve to "govern the treatment and resolution when deciding by renegotiating its foreign debt a country. "

It held that this regulation is betting on the "sovereignty of a country to decide its macroeconomic policy, and decide how to restructure that debt. Transparency, impartiality, equal treatment for not distinguish between creditors ".

She said that in his view, sustainability is perhaps the most important principle "because it speaks to repay debt and to honor the debts but not at the expense of hunger and misery of the people, if not through a political and economic project and variables that make sustainable development and growth of a society. "

"You can not pay a debt if the economy does not have growth in the debtor country," said the President.

Economic default recalled that Argentina went through in 2000, the largest in the history of that country.

"At that time the world was growing at rates more than good, but Argentina without cracked product of a debt that came from way back," she said, referring to the coup occurred in 1976, when he said that deepened until the 1990s, "convertibility regime, when we were led to believe that an Argentine weight was worth more than a dollar," she said.

"Argentina could rebuild its economy and society when the political retook the reins of the economy," said the governor and she said: "It was necessary that creditors allow Argentina to grow so that we could pay the debt," she concluded.

click here