Argentine President Cristina Fernandez on Monday will meet bondholder and billionaire financier George Soros, who is suing a U.S. bank caught in the middle of the country’s latest debt default, a government minister said.
The meeting comes as Fernandez’s leftist government struggles to kick-start growth and contain runaway consumer prices after failing to complete a June interest payment to Soros and other holders of bonds restructured after a previous default.
Soros’ portfolio also includes a 3.5 percent stake in Argentina’s state-controlled energy firm YPF (YPFD.BA). Buenos Aires has frequently cited the Hungarian-born magnate’s investments in the country as a signal of investor confidence in the $490 billion economy.
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.