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Argentine debt restructuring: Italy following the issue closely after the US Supreme Court ruling, says Giro

“We are following the issue of Argentina’s debt restructuring closely after the UN Supreme Court ruling of 16 June last”, stated Under-Secretary for Foreign Affairs Mario Giro with regard to the so-called “holdouts”, i.e. creditors who rejected the bond-swap offer advanced by Buenos Aires after the 2001 crisis.

“Italy has been pleased to note the Argentine government’s often repeated desire to honour its pledges to creditors, as has been demonstrated over recent years and in the recent ageement with the Paris Club”, the Under-Secretary continued, who concluded by expressing his hope in “a good outcome to negotiations, with fair and satisfying solutions for all the parties concerned”. For its part, Italy reaffirms its “willingness to examine all related implications in European and international forums”.

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