The Argentine government will appeal Griesa’s decision about “vulture funds”

Argentina, November 26, 2012

The Argentine government will appeal the ruling of Federal Judge Thomas Griesa of New York, which forces the country to pay about 1,330 million dollars to the so-called “vulture funds”.

The official strategy will be to alert the judge and the financial world of the danger the vulture funds that appear in critical moments of country’s economy and represent a huge part of debt to GDP.

The federal judge in New York struck Argentina on Thursday as he released a ruling in favor of “vulture funds” that forces the country to pay about 1,330 million before 15 December.

Griesa rejected a request from Argentina to maintain its previous order to stop the payment of unpaid bonds to investors until outstanding questions are resolved in a process of appeal to a higher court.

Lorenzino hopes now to go to New York Court of Appeals and defend Argentine interests.