The New York Court authorized the embargo of USD 420 million that Argentina has in the United States
Internet
Published at: 27/08/2024 05:01 PM
The Court of Appeals of the Second Circuit of New York, United States (USA), confirmed a ruling that allows the seizure of 420 million dollars in US Treasury bonds belonging to Argentina, which were used to alleviate debt and guarantee payment to creditors, “Plan Brady”, used in the 2001 default.
In that sense, the ruling that allows the freezing of Treasury bonds directly affects Argentina, which is facing multiple international litigation.
It should be noted that the plaintiffs are seven investment funds that acquired Argentine debt in 1994 and that were harmed after the country's default in December 2001.
In this regard, analyst Sebastián Marill warned that the ruling affects the Central Bank's balance sheet, since the seized bonds would form part of its reserves. In addition, he recalled that if Argentina does not comply with the order, it could be declared in contempt, which would have additional consequences for the country.
Mazo News Team