Cristina Kirchner: “Argentina needs to leave the default”

The president Cristina Kirchner defended again the use of Central Bank’s reserves. “Financial speculation is a big business, ask it to vulture funds” she said.

These statements were made in the act where was formalized the agreement for the marketing of wheat and was introduced a new line of credit to small and medium producers. The leader of CRA, Mario Llambias, attended the announcement.

“Argentina needs to leave the default” she exclaimed and added: “Financial speculation is a big business, ask it to vulture funds.”

The words of the president occurred hours after she acknowledged that international creditors could seize the Central Bank’s reserves if finally the creation of the ‘Bicentennial Fund’, now suspended by a court decision, is done.

“There is a political, media and judiciary conspiracy against the Executive” said the President while she insisted that the use of reserves to pay debts will enable Argentina to return to the market.

Moreover she said, referring to the judgments of Judge Sarmiento, that there is a “formidable political and media maneuver against the Government.”

“Everything is unbelievable and we can say that there is a formidable political and media maneuver with the help of judicial sectors against the Government, because for a politic judicialization, there must be judges to take legal decisions” questioned Cristina.

Also recalled that “When (former President Nestor) Kirchner in 2006 decided to pay in cash to the IMF, he used 100% of the available reserves of the Central Bank, with a GDP much lower than now, of 180 billion. When I decided to establish the ‘Bicentennial fund’ to pay debts, we have 305 billion dollars of GDP and only this amount represents only one third of the reserves” she said.