Cristina Kirchner: “World Needs Real, Democratic Multilateralism.”


Posted on October 7, 2014

by Jerry Alatalo

393-1Argentina’s President Cristina Kirchner addressed the United Nations 69th General Assembly. She is the widow of Nestor Kirchner, who served as Argentine president before her. They both appeared in the 2009 documentary by Oliver Stone titled “South of the Border”, where Nestor Kirchner told Oliver Stone about a conversation he had with then-US President George W. Bush. George W. Bush told Nestor Kirchner that “the best way to revitalize the economy is war”.

So, is it any wonder that Cristina Kirchner of Argentina is outspoken? Her remarks at the United Nations Security Council chaired by US President Barack Obama as well as her General Assembly address have been under-reported or ignored by western corporate news outlets. What follows are some of her General Assembly remarks then a video of her address in its entirety.

“… an unresolved task for us. I have attended these assemblies since 2003, first as Senator, then as of 2007 as President, and we have always kept claiming the reformation of the Security Council organisms as well as the International Monetary Fund (IMF). We talked from the experience of what had happened to the Argentine Republic, my country. Today I dare within this international and global context, my country the Argentine Republic is a triple leading case in the financial, economic field, in terrorism and security field, and also in territorial integrity”.

“In the first case, in what refers to an economic and financial crisis that broke up for the rest of the world, as of the year 2008, and that still persists and now begins to threaten the emerging economies who have upheld during the last decade the largest economic growth. I refer to that crisis, that of year 2008, my country went through it in the year 2001, when the most important default on sovereign debt ever remembered took place at that time, the Argentine Republic had achieved with the consort of the multilateral organisms”.

“Because when you owe, gentlemen, 160% of the GDP, the one to blame is not only the debtor, but also the creditors. And since the dictatorship of March 24, 1976 going through the neoliberal stage, in which Argentina was presented as a beloved student at the IMF assemblies, it finally accumulated an unprecedented debt that caused to implode it, not only in economic terms, but also in political terms. We had five presidents in a single week. By then, nobody was responsible for what had happened in Argentina”.

“Our country had to get through it as it could and in the year 2003 a president that had reached to government with 22% of the votes, few months after taking office, he attended this assembly and remarked that it was necessary to create a model of growth and development for the country so the nation could afford its debts. Because he held in a more-than-interesting metaphor that dead people don’t pay their debts and that it is necessary that countries are able to live”.

“That man who took office with 22% of the votes, 25% unemployment, with 54% of poverty, 27% indigence; without education, without health, without security. After some time with a model of development and growth, we could not only generate millions of work positions, millions included in the social security system, retired and pensioners, we were also able to generate an increase of six points of the gross product, dedicated to education, to allocate enormous sums of money to infrastructure, roads, schools, nuclear power stations, hydroelectric plants, water networks, gas and electricity networks that today go across the whole country, in a process of social inclusion without precedents which made us reduce the poverty and the indigence to a single digit”.

“… that today the very IMF recognizes that the economic growth carried out by Argentina between the year 2004 and 2011 is the third in growth on the global level, only overcome by Bulgaria and China. And we have achieved all this also by affording the debt which others generated. Because it is also good to point it out, that our governments were neither those declaring the default nor the ones to go into debt. We simply took charge as it should be and we paid since the year 2003 up to now more than 190 billion dollars – I repeat the figure – more than 190 billion dollars”.

“Because we restructured the defaulted debt with the 92.4% of the creditors in two debt swaps, one of them carried out by President (Nestor) Kirchner in 2005, and the other by this very president in the year 2010. We made regular payments to the 92.4% of creditors since then, but we also paid the full debt with the IMF. Thus, a few months ago we concluded the negotiation of a debt dating from the year 1956 with the Paris Club. For you to have an idea, this very president was three years old when that debt was started, and the Economy Minister of my country who discussed the restructuring and renegotiation of that debt with the Paris Club was not even born in the year 1956”.

“However, we reached an agreement with 19 economy ministers from the European Union to finally restructure the debt, and we have already paid the first stage – 642 million dollars. Due to the previous government’s actions that ended up being sued before the World Bank Tribunal, when we decided to recover the control of our energy resources and we took over 51% of the actions of the oil company, we also restructured that debt and we reached an agreement. We had made all this with our own resources, without access to the capital market, because Argentina, as a result of the default of 2001, had forbidden the access to the capital market”.

“We started the social inclusion process from the total and absolute bankruptcy in the middle of default. We were able to overcome the default, we were able to include the Argentines, we achieved social growth with inclusion, we were able to get out of debt and now, besides, we have one of the lowest debt ratios in the world”.

“What I want to talk about now is the appearance of the so-called “Vulture Funds”. The Vulture Fund is not a term coined by any South American Populist leader, neither a term coined by any African ruler, despite the fact that the African countries have also been the victims of vulture funds”. An American judge recently ruled in favor of a vulture fund controlled by billionaire Paul Singer at an effective interest rate of 1,608% in five years and in US dollars. Ms. Kirchner continued, “Please tell me if there is any company or an enterprise or some investor that can obtain a profit in dollars of more than 1,600% in only five years”.

“Vulture funds are now blocking the payment to those who trusted in Argentina, to that 92.4%. That is why I celebrate that this assembly has faced this problem and hope that this year or next before the 2015 General Assembly, we build regulations for the restructure of sovereign debts, so no other country should undergo what Argentina is going through now. Vulture funds in our country are triggering rumors, defamations, and slanders, both to persons and to the economy and finance, acting as true destabilizers of the economy, a sort of economic and financial terrorism”.

“Because terrorists are not only those who go planting bombs, there are economic terrorists; those who destabilize the economy of a country and produce poverty, hunger, and misery from the sin of speculation. It is something we should say very clearly. That is why we are demanding so strongly so this multilateral agreement is born soonest. Not only for Argentina, but for the rest of the world, because we also believe that an economic and financial balance that attacks economic and social inequalities among countries and within each of them will also become a great antidote against those who recruit young people”.

“Because those elements have lost hopes, they lack a future, and so they join in crazy crusades that we must also later regret. We cannot only see the surface of these problems. We must search deeply into the reasons that inspire them”.

Argentina’s Cristina Kirchner touched on a number of equally important issues during her address:

The need to bring about Palestinian sovereign statehood for a real chance at Middle East peace

United Nations reform to bring about a truly democratic world order and provide the chance to solve humanity’s problems

Respect for international law and eliminating double standards

Territorial integrity as it relates to the use of military force

Rescuing the General Assembly from the Security Council with its five permanent members’ holding veto powers

IMF reform and an international agreement/treaty for restructuring sovereign national debts

Working for peace

Answering questions surrounding who is financing and supplying terrorist groups like ISIS

The need to question more to find out what is really going on – the only way to advance toward creating truly global solutions, and leaving a better world for our children

In one of the memorable statements by President Kirchner, she spoke about how “Fictional television shows we enjoy watching are nothing compared to the reality of the world today”.


Quotes from “South of the Border”: 

(Thank you to KharMagassss at YouTube)


2 thoughts on “Cristina Kirchner: “World Needs Real, Democratic Multilateralism.”

  1. It’s great to see her support Palestinian statehood. The Palestinian Authority is bringing a resolution to the Security Council demanding that Israel withdraw from all Palestinian lands by 2016.


    1. Stuart,
      Yes, there is quite an extraordinary political movement that’s been occurring in Latin America for the past several years. Extraordinary around the world as well. It’s not difficult to forget how extraordinary. Thanks.


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