Answer: Cristina is praying to both of them in her fight to avoid paying at all costs.
Since Argentina’s demotion to “unclassified market” status due to stringent capital controls kicked it off the FTSE’s frontier equity index, Cristina’s playing footsie elsewhere.
Enter Pope Francis, George Soros, and Ban Ki-moon.
Pope Francis and Argentine president Cristina Fernandez met at the Vatican during the weekend
Argentina appeals to a higher authority in fight with creditors
Cabinet chief Jorge Capitanich gave no details on what Fernandez and Soros would discuss. Local media reported Fernandez would be looking to shore up support for her unflinching stance against a small group of investors whose decade-long debt row with Argentina triggered July’s default.Fernandez is in the United States ahead of the United Nations General Assembly, as relations between Buenos Aires and Washington sour over the role a U.S. court played in Argentina’s debt saga.
“Today’s international agenda begins with a meeting with U.N. Secretary General Ban Ki-moon and also George Soros,” Capitanich told reporters.
. . .
Soros’ Quantum Partners hedge fund is one of four creditors that sued BNY Mellon in London last month, accusing the trustee agent of protecting its own interest by obeying the court.
I’m not sure what the hey does the Pope have to do with any of this, but you can do great shopping in Rome on a weekend trip.
While Cristina travels in style, the Argentinian government does not have a strategy to solve its domestic economic problems.
