Argentina's
former Minister of Finance Axel Kicillof criticized the country's new
President Mauricio Macri for making a bad deal for Argentina in
negotiating with holdout creditors, known as the "vulture
funds."
In a special
op-ed published Sunday by Argentine daily Pagina 12, the economist
criticized Macri for even entering into negotiations with creditors,
but furthermore added that the current president is getting a bad
deal.
According to
the economist, official sources tried to tell the public earlier this
month that Macri's government will propose to creditors that
Argentina receive a 40 percent rebate on interest if the country pays
back their debt in full. These sources also added that the president
“aims to get more removed in exchange for paying in cash.”
However,
according to Kicillof, the day after this announcement was made,
Macri's true offer was revealed to be not as hard hitting as his
administration promised, which was only a 25 rebate on the debt
payment, if paid in cash.
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