'Re-opening of debt swap will depend on US Appeals Court's ruling'

Economy minister Hernán Lorenzino.

Economy Minister Hernán Lorenzino today expressed that “the government is awaiting the decision of the New York Court of Appeals” in the case held against Argentina over ‘vulture fund’ payments by New York Judge Thomas Griesa.

A US court last week ruled that Argentina must pay holdouts of US$1.3 billion dollars to hedge funds Elliott Management’s NML Capital and Aurelius Capital Management, something Argentina has shunned as a way to"exploit the country’s 2002 sovereign default."

“We are awaiting the decision of the court, due to the fact that no concrete decision has been made following our appeal. We don’t have anything else to add to what we have already said in recent days,” Lorenzino said.

The statements were made today at the Economy Ministry during a press conference over fuel tax implementation in Córdoba province.