Post by Logan on Jan 22, 2016 20:03:59 GMT -6
Argentine President Mauricio Macri said on Friday that talks with U.S. creditors in a long-running legal battle over unpaid debts had not made much progress, although he hoped to reach a settlement early this year.
"We want to reach a settlement, find a fair agreement," Macri told Reuters on the sidelines of the World Economic Forum in Davos, adding that he hoped to reach a deal "this year, early this year".
Macri said the biggest sticking point in the discussions was the issue of penalties on Argentina's defaulted bonds.
"We don't want to discuss capital, we want to discuss penalties which are really high. In some cases penalties arrive to 80 percent and in case of one bond capital is 10 cents and penalties are 90 percent," the president said.
Continued at www.reuters.com/article/us-argentina-president-idUSKCN0V00UP .
"We want to reach a settlement, find a fair agreement," Macri told Reuters on the sidelines of the World Economic Forum in Davos, adding that he hoped to reach a deal "this year, early this year".
Macri said the biggest sticking point in the discussions was the issue of penalties on Argentina's defaulted bonds.
"We don't want to discuss capital, we want to discuss penalties which are really high. In some cases penalties arrive to 80 percent and in case of one bond capital is 10 cents and penalties are 90 percent," the president said.
Continued at www.reuters.com/article/us-argentina-president-idUSKCN0V00UP .