President Cristina Fernández stressed the need for a more equitable debt repayment system in an impassioned final speech to the United Nations 70th General Assembly on Monday.
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President Fernández at the 70th UN General Assembly in New York (photo courtesy of Casa Rosada)
The outgoing president voiced support for the UN’s approval of a debt restructuring proposal that allows governments more flexibility to decide their nations’ macroeconomic policies during debt repayment negotiations.
“Debts should be honoured, but not if it is at the cost of starving the people,” she said.
The president highlighted the success she and her husband’s governments have had in taking control of the country’s economy, but stressed that the measures to negotiate sovereign debt restructuring must change. Chief among her concerns were vulture funds.
President Fernández also criticised the United States for its vast income inequality.
“According to the latest report by the International Monetary Fund, 50% of wealth is concentrated today in 1% of the population. Here. Right here in this country, the birthplace of the American dream, the dream of middle class Americans.
“How long can a society sustain itself?” she asked. “A world, with this level of inequity in income distribution and all that entails.”
President Fernández congratulated the United States, Iran, and the members of the Security Council for achieving the nuclear deal.
“We knew about these negotiations, we were hopeful that a deal would finally arrive,” she said, using the nuclear agreement to discuss the terrorist attack on AMIA in July 1994.
She said what she thought was a “complicated chessboard” of international politics was more of a “web of outside interests,” adding that the trial has brought out “shocking information” that shows links to vulture funds. She also demanded cooperation from the US in the search for former spy Antonio Stiuso, whom she suggested was enjoying “protection” in the country.
President Fernández expressed her government’s commitment to “tirelessly seeking out truth and justice in the AMIA case.”
She ended her speech by making an homage to Latin America, saying she feels like a “daughter” to the continent.
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