August 23, 2014
A World Trade Organization (WTO) dispute panel ruled against Argentina today in a 2012 case brought by the United States, European Union and Japan against Argentine import licensing rules used to restrict imports.
The head of the Renewal Front Lower House caucus does not seem to be much of a fan of having Martín Insaurralde joining the Sergio Massa-led opposition party because “politics is serious business.”
With the federal government just defying a ruling by US District Court Judge Thomas Griesa moving to push in Congress for a change in jurisdiction to allow bondholders to collect their money in Argentina, Lorenzetti considered the country faces a “very difficult situation.”
Unfortunate, incorrect and imperialist was how Cabinet Chief Jorge Capitanich described statements by US District Court Thomas Griesa who had questioned Argentina’s debt swap project that involves paying bondholders through the country’s Central Bank.
European investors holding 5.2 billion dollars of restructured Argentine bonds are negotiating the removal of the Rights Upon Future Options (RUFO) clause that the country claims prevents them from negotiating with vulture funds, sources close to the meetings informed today.