During the Kirchner era, Argentina must compensate US$337 million for manipulating Indec data.

The government of Javier Milei is facing a payment of about US$337 million to appeal an adverse ruling related to the manipulation of Indec data during the Kirchner era from 2007 to 2015. The payment will need to be made in a court in Great Britain as part of a trial against the country for falsifying economic growth data during Kirchnerism. The total amount of the sentence is approximately US$1.5 billion, as reported by Bloomberg and expert Sebastián Maril.

The plaintiffs in the case are represented by the law firm Quinn Emanuel Urquhart & Sullivan, with Dennis Hranitzky, the lawyer who seized the Frigate Libertad in 2012, among its partners. In response to this ruling, the Argentine government has created a special trust called RofA Special Trust 2024 in New York with nearly US$330 million as a guarantee to appeal the ruling on PBI Coupons in London.

The Executive Branch recently approved a decree, 277/2024, which authorizes the creation of RofA Special Trust 2024 and grants extension of jurisdiction to state and federal courts in New York while waiving defense of sovereign immunity in contracts related to the decree. However, it clarifies that Argentina does not waive immunity with respect to executing sentences that arise from extended jurisdiction clauses. Various assets are specified that are protected by sovereign immunity laws and cannot be used for payment.

This case has sparked discussion and speculation online with various sources providing insights and analysis on its implications and how the Argentine government is responding.

By Aiden Johnson

As a content writer at newspoip.com, I have a passion for crafting engaging and informative articles that captivate readers. With a keen eye for detail and a knack for storytelling, I strive to deliver content that not only informs but also entertains. My goal is to create compelling narratives that resonate with our audience and keep them coming back for more. Whether I'm delving into the latest news topics or exploring in-depth features, I am dedicated to producing high-quality content that informs, inspires, and sparks curiosity.

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