Thursday, January 17, 2013

MAYBE YOU SHOULD CRY FOR ARGENTINA

Argentinian President Cristina Fernández de Kirchner can’t fly her official plane abroad anymore because creditors might impound it. Argentina defaulted on almost $100 billion in sovereign debt in 2001, and while most creditors accepted a settlement, a few are still trying to get their money back. U.S. investment fund NML Capital, which is trying to collect the $1.6 billion it was awarded after suing Argentina, got a Ghanaian court to seize an Argentinian navy ship last year, and Argentinian officials fear it could similarly take Kirchner’s plane, Tango 01. The president has chartered a private jet for her upcoming trip to Asia and the Middle East.
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