Rethinking Bretton Woods | Mon, Nov 16, 2015
After the profound economic and social crisis that engulfed Argentina in 2001, the country renegotiated the terms of its sovereign debt with more than 92 per cent of its creditors. NML Capital was among those creditors who refused to accept the terms of the agreement reached with the majority and sued the country in US courts for payment of a 100 per cent of their credits.
In an article appeared on the German Forum on Environment and Development’s magazine, RBW Project Director Aldo Caliari explains how NML Capital’s practice fits into a business model adopted by “vulture funds” and what is at stake in Argentinean attempts to fend off their judicial and political tactics.(Photo credit: CC/Flickr/Jubilee Debt Campaign).