Argentina passes law to establish debt audit commission
by Jubilee Debt Campaign
Argentina has legislated to create a commission to investigate the origin of the country’s debt, dating back to the military dictatorship of 1976 to 1983. The law states that once the commission has been established, it will report within 180 days. Campaigners in Argentina have been calling for a public audit into the debt, to discover if any loans were odious or illegitimate, and hence should not be paid. It is not yet clear when the commission will be established.
The move comes as the South American country continues to resist the activities of vulture funds NML Capital and Aurelius Capital Management who are seeking a gigantic profit out of Argentina. The two vulture funds have refused to accept a debt restructuring agreed by 93% of other creditors, and have had their claim backed by a US court, preventing Argentina from paying their debts to everyone else.