Argentina has won a small but significant victory in its battle with the vulture funds that were preventing the country from paying its debt. An appeals court in the United States has ruled that Argentina can appeal a ruling handed down by Judge Thomas Griesa last March, which blocks Citibank from processing payments to Argentina’s creditors. This is one mechanism used to try to force Argentina into default and impede its debt restructuring plan. Some observers are astounded by the decision because it is the very first time a United States court has ever ruled in favor of Argentina on this issue. Yet it does not fundamentally change the situation. Its main effect is to give Argentina more time. Leo Poblete reports from Buenos Aires for teleSUR.
