Argentina Passes Law To Circumvent US Control

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Mark Melin
Published on
Updated on

It’s official. The Argentine government has voted to do what it had pledged not to do and passed legislation to defy a U.S. court ruling on its debt payments. Argentina’s law on avoiding U.S. jurisdiction After debate on the issue that pushed late into the night, the measure to make payment on its foreign-owned bonds in a local bank or elsewhere outside U.S. legal jurisdiction passed by a 134-99 margin. After passing the Senate earlier in the week, the measure will be presented to Argentina’s president, Cristina Fernandez, for her signature. However, like Argentina’s recent victory in a United Nations resolution,…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.