Share

Argentina president, back after sick leave

Buenos Aires - Argentina's president Cristina Fernandez returned to the public stage in fighting form on Tuesday after a three-week break due to an infection, declaring in a speech to businessmen she would not be held ransom by hedge funds suing the country.

The 61-year-old, two-term president who has had various health problems in recent years was discharged from hospital on 9 November after treatment for bacterial infection of the colon and ordered by her doctors to rest.

But in her 40-minute speech to the Argentine Chamber of Construction, she appeared every bit her usual fiery self, attacking the hedge funds that purchased Argentine debt for cents on the dollar after its devastating 2002 default and are now suing it for full repayment.

Holders of 93% of Argentina's defaulted debt accepted swaps in 2005 and 2010 for new paper offering around 30c on the dollar.

Other health problems

"We have a lot of interest in solving the external issue. That's why we reached a deal with the Paris Club," Fernandez said. "But no financial vulture nor judicial raptor is going to extort money from this president."

Argentina has been locked in a legal battle with the hedge funds led by NML Capital Ltd and Aurelius Capital Management for years.

In July, a US court order prevented the South American country from making an interest payment on its restructured bonds, tipping it into a new default at a time when its economy was already struggling with soaring inflation and dwindling foreign reserves.

Among her other health problems, Fernandez had an operation last year to remove blood that had pooled on her brain and took several days off last month with a sore throat.

Fernandez's medical team on Tuesday specified in a press statement that they recommended her to "return to work progressively".

She should carry out a planned trip to Ecuador but cancel one scheduled for early next month to Mexico, where she had been invited to attend a books fair and the Ibero-American Summit, the doctors said.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Voting Booth
What is a non-negotiable when considering the election manifestos from various parties?
Please select an option Oops! Something went wrong, please try again later.
Results
A solid plan for load shedding
15% - 438 votes
Bold climate change objectives
1% - 30 votes
Roadmap for economic recovery
51% - 1509 votes
Solutions to SA's crime crisis
33% - 971 votes
Vote
Rand - Dollar
19.00
-0.5%
Rand - Pound
23.95
-0.2%
Rand - Euro
20.50
-0.2%
Rand - Aus dollar
12.35
+0.0%
Rand - Yen
0.13
-0.5%
Platinum
895.30
-0.2%
Palladium
991.47
-1.0%
Gold
2,193.25
-0.1%
Silver
24.44
-0.8%
Brent Crude
86.09
-0.2%
Top 40
67,836
+0.2%
All Share
74,046
+0.2%
Resource 10
56,127
+0.8%
Industrial 25
103,468
+0.2%
Financial 15
16,484
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE