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, those voting in favor of the law might not be the ones that matter most.
On Tuesday, Economy Minister Axel Kicillof...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
