Argentine president urges Congress to OK debt deal

Argentine President Mauricio Macri on Tuesday urged Congress to approve a deal with so-called vulture fund creditors holding overdue debt bonds.

Addressing Congress on the first day of the legislative session, Macri said he believed legislators would "be responsible" in their rhetoric and that "we'll build the necessary consensus" to pass the deal.

The president added it was now up to the legislators to repair the damage which he said was done by the refusal to negotiate with international creditors before.

Argentina defaulted on nearly 100 billion U.S. dollars in debt in 2001. A landmark agreement was announced Monday to settle the issue.

Argentine Finance Minister Alfonso Prat-Gay said the deal is a great step toward restoring the South American country's financial position.

In a combative speech to the legislature dominated by opponents, Macri also blasted the previous administration of the Liberal Front for Victory (FPV), saying that "in recent years, the state has systematically lied, blurring the lines between reality and fantasy," which "destroyed credibility and trust."

After taking office in December, Macri said he found the state is " riddled with (political) patronage...corruption and sloth...in disorder and poorly managed," and "lack of planning."

FPV deputies later issued a statement, saying they regretted that "the president has opted to open the congressional sessions with a violent speech riddled with falsehood, in which he unleashed assaults and criticisms, showing a lack of respect not only for us, but also the millions of Argentines that we represent." Endi