The Jubilee Blog

Eric LeCompte Speaks to Nearshore Americas on Argentina

By Kate Zeller

“Argentina has had a difficult history with the IMF, austerity and predatory vulture hedge funds. We don’t want history to repeat itself,” stated Eric LeCompte, Executive Director of the religious development group Jubilee USA, in a press release.

Read more here.

 

Jubilee USA Statement on IMF Lending to Argentina

By Kate Zeller

The International Monetary Fund announced a $7 billion increase to its credit line to Argentina. IMF lending to Argentina now totals $57 billion, making it the largest lending program in IMF history.   

Eric LeCompte is the Executive Director of the religious development group Jubilee USA. He has tracked Argentina debt for the last 10 years. LeCompte releases the following statement:

"The new lending to Argentina is very concerning."

“Argentina has had a difficult history with the IMF, austerity and predatory vulture hedge funds. We don't want history to repeat itself."

Argentina Returns to Bond Market after Debt Settlement

By Greg Williams

Argentina returns to the bond market after 15 years with access to limited international financing. Argentina will use part of the money it raises to pay hold-out funds from the country's 2001 default.‎ Those funds rejected previous settlement offers and instead sued Argentina for full repayment. Argentina agreed to terms with the funds in February ending a decade-long legal dispute.

Argentina Lower House Repeals Laws to Support Hedge Fund Debt Deal

By Greg Williams 

Argentina's lower house of Congress voted 165-86 to repeal two laws that blocked the country from settling its decade-long debt dispute with a group of "hold-out" investors. A US judge approved the $4.65 billion agreement on March 2 on the condition that Argentina's congress revoke the two laws.‎ Argentina's Senate now faces an April 14 deadline to also repeal the laws.

US Judge Plans to End Argentina Debt Sanctions

By Greg Williams 

 

US District Judge Thomas Griesa agreed to lift injunctions on Argentina that could pave the way to ending the country's decade-long debt dispute with "hold-out" hedge funds. The ruling allows Argentina to repay investors who accepted past debt restructuring deals even if it does not first pay a small group of hedge funds who refused recent settlement offers.

"The most predatory actors in this case are increasingly isolated," said Eric LeCompte, a sovereign debt expert who tracked the case for six years and is the executive director of Jubilee USA, a religious development organization. "It's clear the judge felt Argentina's latest offer was reasonable and the hold-outs should have accepted it and ended this saga."