Nestor defaulted on the IMF loans, and forced them to roll them over on his terms. He paid about 1/3 of the face value.
And Killicof also bluffed the Club de Paris into cutting the interest rate in half, from 7% to 3.5%.
Both of those qualify as "haircuts".
The Kicillof negotiations with the Club de Paris , was a disaster
, the debt payment ended up US $3.4 billion OVER what was originally agreed upon.He was questioned in Congress and criminally denounced for his mal performance 07/2014
El ministro de Economía iba a reunirse con legisladores este lunes, pero suspendió el encuentro.
"The senator of Unen, Fernando "Pino" Solanas, took the opportunity to ask the Kicillof head of the Palacio de Hacienda for the striking final figure of the agreement by the Paris club, which was 9700 million dollars, 3,400 million more than what was in the official forms
only one year ago, an irregularity that the legislator denounced criminally.
The minister escaped, but at the insistence of other legislators had to refer to the issue. “The debt is what I negotiated with representatives of all countries. With them, I'm not going to draw a number, ”he defended himself.
"Then we want to see the agreement, because we didn't even see it!", They asked in unison. "Yes, I will send it," the minister promised...?