Argentina

Argentine Foreign Minister Hector Timmerman has produced a list of more than 100 Argentine politicians and officials who were victims of espionage. No country was directly accused of the espionage charges though it is suggested that the list is related to the recently released documents incriminating the US of mass espionage in the region. The US has advised that they will not be filing a suit with the Supreme Court to review Argentina’s decades-old battle regarding their holdout creditors. Argentina’s $100 Billion default in 2002 has been a heavily debated issue between investors and creditors over the past ten years. Despite the Argentine creditors’ failure to engage in restructuring attempts in 2005 and 2010, the IMF is set to back Argentina in the probability that the Supreme Court case does ensue. It’s believed that if the proceedings do get underway, this case could possibly change how governments deal with their creditors. (July 16, 2013 BBC; July 19, 2013 Reuters; July 17, 2013 WSJ)