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

The Argentine government is facing a payment of approximately US$ 337 million in order to appeal an adverse ruling related to the manipulation of Indec data during the Kirchner era from 2007 to 2015. This 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 the RofA Special Trust 2024 in New York to provide a guarantee of nearly US$330 million as a condition to appeal the ruling on PBI Coupons in London. The Executive Branch recently approved a decree, 277/2024, published in the Official Gazette, which authorizes the creation of this trust and grants extension of jurisdiction to state and federal courts in New York.

However, this decree also waives defense of sovereign immunity in contracts related to it. It clarifies that while 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 decision has sparked discussion and speculation online with various sources providing insights and analysis on its implications. Some experts predict that this move could have significant consequences for Argentina’s economy and reputation abroad if not handled carefully.

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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