Mr. Milei, where is the money?

President Milei is facing a deadline to pay $16 billion to former shareholders of the nationalized energy company YPF.
Last year, a court in New York ruled that Argentina owes a record sum to two former investors who sued the state after the then-Peronist government refused to buy back the shares at the agreed price when it expropriated YPF in 2012. Their dispute was financed by Burford Capital in exchange for a percentage of the award, writes the Financial Times, reports weekly Poslovni dnevnik.

• The appeal still pending

While awaiting a decision on the appeal, the court ordered that by January 10, part of the property worth about five billion dollars be set aside as collateral. Prosecutors say that after that date they will be forced to try to enforce their rights by seizing Argentine assets.
Experts of the case, but also the economic and political situation, consider it almost certain that Argentina will miss that deadline. The ghosts of the past could turn into a headache for the new, 'pro-market' president. Since taking office in December, Milei and his officials have repeatedly emphasized Argentina's "willingness to pay," but cautioned that a lack of a stable currency and political obstacles prevented them from doing so in the short term.
Prosecutors point out that Milei did not allay their concerns that the country, already faced with waves of international litigation over the past two decades, is once again shirking its obligations.
"Despite the welcoming and optimistic statements of the new Argentine president, Argentina's lawyers have made it clear that the Republic will not cooperate even on basic matters," the judges wrote last week.
Argentina is currently experiencing the...