The approval of the agreement will allow for the resolution of the last litigations related to the 2001 default, lift embargoes on assets such as Banco Nación and Aerolíneas Argentinas, and recover shares of YPF
During the debate, ruling party deputy Bertie Benegas Lynch was blunt in stating that Argentina has today the opportunity to “close this wound of international disgrace after 25 years”.
In a historic day that marks the end of 25 years of isolation and financial discredit, the Chamber of Deputies approved a crucial authorization this Wednesday to execute the payment plan intended for the last “vulture funds”. The initiative, strongly promoted by the administration of Javier Milei, achieved a decisive political victory with 139 positive votes against 97 negative votes, thus securing the necessary consensus to clean up the accounts left in ruins by populism.
This legislative triumph not only represents a step forward in the economic agenda of the Government, but also consolidates a patriotic alliance in the chamber, with the strategic support of PRO, UCR, Federal Innovation, Independence, Elijo Catamarca, and a large part of Provincias Unidas. On the opposing side, Unión por la Patria and the Left Front were once again exposed, opting for rejection in an attempt to keep Argentina chained to a past of defaults.
The urgency of the session was due to the deadline of June 30, the date set in the conciliation agreement reached in the U.S. courts. Thanks to the negotiating expertise of Javier Milei's economic team, a close to 30% reduction on the amounts owed was achieved, allowing the remaining balance to be settled with a total disbursement of USD 171 million.
The breakdown of the payments is divided as follows: USD 67 million for the firm “Bainbridge Ltd.” and USD 104 million for the creditor group led by “Attestor Value Master Fund LP”.
Beyond the figures, the parliamentary ratification serves as a shield for the assets of all Argentines. According to the approved plan, the seizures affecting strategic assets such as Banco Nación and Aerolíneas Argentinas will be lifted.
Additionally, class A, B, and D shares of YPF will be recovered, freeing the oil company from future legal conflicts and granting it the legal security necessary for its growth.
He also highlighted that the agreement not only includes the mentioned reduction but also “exempts us from paying legal fees” and guarantees that creditors will not initiate “new legal actions” against the State.
For her part, Silvana Giudici emphasized the importance of regaining control over the state oil company, explaining that: “These actions that these vultures have will allow YPF to end up free from any other conflict”.
Despite the overwhelming benefits, the session was not free from questioning by the technical opposition and the residual Kirchnerism.
Deputy Miguel Ángel Pichetto, from Encuentro Federal, attempted to equate this act of financial responsibility with the veto of the University Financing Law, arguing that the project “lacks the budget allocation required by the Financial Administration Law”. However, the ruling party maintained the premise that honoring debts is the indispensable basis for any future growth.
At the beginning of the legislative meeting, the assumption of Martín Matzkin as the new national deputy for the province of La Pampa was formalized, replacing Adrián Ravier. Matzkin, a leader close to Minister Patricia Bullrich, joins the La Libertad Avanza bloc to strengthen parliamentary support for the President at a time when internal cohesion is key to advancing the profound transformation of the country.
