Latin America and Caribbean close ranks with Argentina

Latin America and the Caribbean supported Argentina, faced with the attacks by the so-called vulture funds and warned about the dangerous consequences of those speculative capitals for the region.

During an extraordinary meeting of the Organization of American States (OAS) in this capital, the region supported the request by Buenos Aires of calling to a Foreign Minister meeting on Thursday to discuss the issue.

In that meeting, the Argentinian ministers of Foreign Affairs and Economy, Hector Timerman and Axel Kicillof , respectively, will defend the thesis by Buenos Aires.

Our total support and solidarity to Argentina. The problem of vulture funds involves us all. It is an attack against legal security and human rights, said Uruguayan Ambassador Milton Romani.

His colleague from Ecuador, Marcos Abuja, denounced that the decision by the US Supreme Court in favor of those funds puts jeopardizes the international financial system, especially Argentina.

He considered really serious the precedent of that legal sentence and recalled the speculative attacks of those funds against the poorest African nations in recent years.

All countries have the right to reorganize their debts, ignoring that right is to put in danger the economy of that State, which is Argentina in this case. It is serious and dangerous forthe region, said Nicaraguan representative Denis Moncada.

The ambassadors of Colombia, Chile, Saint Lucia, Mexico, Guyana, Venezuela and other countries, expressed their solidarity with Argentina.

OAS Secretary General, Chilean Jose Miguel Inzulza, ruled out Panamanian representative’s suggestion of postponing the foreign minister meeting, putting forward the haste and importance of the issue.

New York Judge Thomas Griesa decided in January, 2012 that Argentina should pay around $1.3 billion USD to the vulture funds, which refused to participate in the renegotiation of the debt, accepted by 92.4 percent of the creditors.

The decision was ratified the current month by the US Supreme Court, causing harsh criticism by Buenos Aires and numerous regional countries.

Since then, Argentina launched a campaign to denounce the decision and the attacks by the vulture funds, supported by Latin America (Prensa Latina).

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