US court requires Argentina to reveal the methodology used by INDEC during the government of Cristina Kirchner

The judicial decision is linked to the trial that the vulture fund Aurelius Capital Management initiated against the country, in the United States, due to the way in which Argentina measured the PBI to pay or not the public debt bonds coupons tied to growth.

This was an instrument that was delivered in the debt swap with private creditors that took place in 2005.

For its part, Aurelius will have to present to the court the documents that prove the purchase of Argentine securities issued in dollars, after this debt restructuring.

That fund claims US $ 159 million that, according to that company, Argentina owes it for the bonds known as the “GDP coupon.”

In a presentation made two years ago in a federal court in Manhattan, Aurelius assured that Argentina did not make payments of the GDP coupons linked to the bonds issued in its debt restructurings of 2005 and 2010.

For the fund, then-president Cristina Kirchner manipulated the 2013 GDP figures to avoid paying the holders of the securities billions of dollars.

For this reason, Aurelius questioned the statistics produced by INDEC at that time.

According to the plaintiffs, the then Minister of Economy Axel Kicillof had announced that the 2013 GDP had grown 4.9%, but then pointed out that due to a review of accounts (change of base from 1993 to 2004), the growth had been 2 , 9%.

In 2005, the trigger for the payment was a growth of 4% and the GDP grew 9%, while in the following seven years Argentina grew an average of 7%, with a trigger of 3.5%; The Bloomberg agency indicated this Wednesday.

The coupon was always credited the following year for past growth.

Faced with the lawsuit, Argentina affirmed that it made all the payments of those coupons, for a total of almost US $ 10,000 million, for which it demanded that the North American court dismiss Aurelius’ lawsuit.