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 in order 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. The Argentine government 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 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 the RofA Special Trust 2024 and the issuance of a Standby Letter of Credit in favor of the Trustee of the Negotiable Securities. The London Court of Appeal has set a deadline of April 5 for the State to pay

By Samantha Johnson

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