There will be a 60% acceptance in the exchange, Economy minister says

May 20, 2010  |   Filed under: Economics  |   Posted by:

The Minister of Economy, Amado Boudou, is very hopeful that the proposed debt exchange reaches 60% and he added that this plan is not for vulture funds.

“Our objective was to reach 60% and we will get it. It’s going to know on June 7,” the official said on the radio.

Meanwhile, he said that 45% acceptance announced yesterday is “the total bond holders.” He added: “The largest holders are 100%, without the vulture funds.”

Moreover, the minister said, referring to criticism by the Noteholder Nicola Stock, who had felt negatively adherence to exchange, “Italian creditors did not involved in the exchange and they have not charged for ten years.”

On the inflation topic, with regard to salary increases as a potential driver of it, Boudou said every area has the possibility of trading. “There are percentage increases that have to do with the productivity of each group “he added.

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