Argentina’s Government to Pay US$337 Million in London Appeal for Manipulated Economic Data

Argentina ordered to pay US$337 million for manipulating Indec data under Kirchner administration

As reported by Bloomberg and expert Sebastián Maril, the Government of Javier Milei will need to pay approximately US$337 million to appeal an adverse ruling related to the manipulation of Indec data during the Kirchner era from 2007 to 2015. This bail will be paid in a court in Great Britain as part of the trial against the country for the manipulation of economic growth data during Kirchnerism, with a total sentence of about US$1.5 billion.

The plaintiffs are represented by the law firm Quinn Emanuel Urquhart & Sullivan, which includes Dennis Hranitzky, the lawyer who seized the Frigate Libertad in 2012. According to Maril, Argentina has announced the creation of the RofA Special Trust 2024 in New York to provide a guarantee of nearly US$330 million as a condition for appealing the PBI Coupon ruling in London.

Through Decree 277/2024 published in the Official Gazette, the Executive Branch approved the model trust agreement called “RofA Special Trust 2024,” along with other documents necessary for granting Standby Letter of Credit and Letter of Credit Facility Agreement models. The London Court of Appeal mandated that before April 5th,

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