Argentina Won’t Extend Maturities on Dollar Debt, Fernandez Says

Argentina plans to obtain new funding from multilateral lenders like the Inter-American Development Bank for projects and won’t roll over existing debt, President Cristina Fernandez de Kirchner Fernandez said.

“The other day I heard there are opportunities to get cheap debt in the world. If that means taking on debt for public works, fantastic,” Fernandez said today during a speech on the outskirts of Buenos Aires. “Is that the debt you want or to roll over debt? Because every time you extend a maturity you pay fees and interest to the banks. So don’t come to me without explaining what kind of debt we’re talking about.”