Abstract

FRIDMAN, Alejandro M.. The vulture funds against Argentina and the ideological market friendly context in the international financial world. Ciclos hist. econ. soc. [online]. 2016, vol.27, n.47, pp.1-20. ISSN 1851-3735.

During the recent years a new actor has made its presence in the political and economic world scene, the so called vulture funds. These hedge funds buy cheap sovereign debt from poor countries which are close to default, in order to litigate later in courts located in developed countries (mainly USA and, to a lesser extent, European countries like United Kingdom) to get the nominal value. This procedure generated all kind of problems which will be analysed in this paper. Which was the role played by the IMF and the financial world to this respect? How can we relate the performance of these funds with the market ideology prevailing in the IMF and the financial world as a whole? What are the prospects, regarding the litigation between the funds versus Argentina, one of the emblematic cases? The whole subject matter is analyzed, mainly from a political point of view, which we consider more important than such dimensions as the legal, economic or purely financial ones.

Keywords : Argentina, vulture funds, ideology, IMF.

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