Abstract

ALVAREZ, Ayelen  and  CANTAMUTTO, Francisco. Political coalitions and arguments in Argentina's conflict with Vulture Funds. From the Sovereign Payment law (2014) to the debt cancellation law (2016). Rev. hist. am. argent. [online]. 2023, vol.58, n.1, pp.215-252.  Epub Aug 19, 2023. ISSN 2314-1549.  http://dx.doi.org/10.48162/rev.44.043.

Argentina went through a long conflict with creditors affected by 2001 debt default. A small group, specialized in long-term litigation, managed to affect not only the country's access to the capital market but also the dynamics of the national political arena. This paper analyzes the political coalitions that were formed around the Argentine State's conflict with the so-called "vulture funds", and the main arguments and ideas surrounding the sovereign debt problem. To this end, we proceed to analyze the debates in Congress over the 2014 Sovereign Payment Law and its subsequent repeal under the 2016 Debt Cancellation in Cessation of Payment Law. It thus maps the main political positions and discourses in the context of an important shift in the treatment of the conflict. It is argued that both laws were key in shaping the contending political forces.

Keywords : international financial architecture; external debt; debt restructuring; vulture funds; economic sociology.

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