The US justice has suspended the execution of the sentence which obliges Argentina to pay 15 billion dollars by December 1,33 to some speculative funds that had rejected the offer to exchange sovereign bonds after the 2001 default. "All decisions are suspended" until the appeal process, according to the AFP news agency. The hearing is scheduled for February 27th.
Last Thursday a federal judge in New York, Thomas Griesa, had ordered Argentina to pay the bonds, raising fears of a new bankruptcy of the country. Buenos Aires had appealed the sentence, suffering anyway a five notch cut in the rating, up to CC, by the Fitch agency.
The stay of judgment was revealed in a Wednesday tweet from Argentine ambassador to the United States, Jorge Arguello, who wrote: “Vulture Funds: New York Court of Appeals upheld Griesa's request for stay of trial, presented by Argentina”. The information was later confirmed by an anonymous source from the Ministry of Economy to AFP.
