As of May 31, 2023, debt in Argentina (public and gross) totaled US$398.8 billion, a decrease of 0.6% with respect to December 31, 2022.
Also, according to the Argentine government, as of June 18, 2023, agreements in principle have been entered into with holders of approximately 87% of the nominal amount of the Non-Bid Debt outstanding as of December 31, 2015 (including in the computation the credits that the Republic considers extemporaneous and for which no agreements have been entered into).
Also as of June 18, 2023, payments to the Settling Creditors had resulted in the dismissal of claims in the United States in the aggregate face amount of approximately US$3.5 billion, plus interest, and the forgiveness of judgments in the amount of approximately US$5.5 billion.
Additional plaintiffs in the United States District Court for the Southern District of New York have entered into settlement agreements; upon payment of the amounts contemplated by such agreements, the claims should be dismissed.
Similarly, as of June 18, 2023, Argentina has settled with bondholders governed by German law a nominal amount of €750.1 million.
In addition, procedures are being reviewed to allow for the liquidation and cancellation of other bonds governed by German law that are held in physical form.
Debt in Argentina
As of June 18, 2023, 27 lawsuits related to bonds defaulted in 2001 with an alleged face amount of approximately US$249.4 million were pending in court.
These actions have resulted in judgments totaling approximately US$483.8 million involving bonds with a face amount of approximately US$175 million. The government of Argentina said it will seek to resolve these claims through a negotiated settlement.
In the UK GDP-linked warrants proceeding, judgment was entered on April 5, 2023, declaring that the total amount of payment due on the 2013 euro-denominated GDP-linked warrants was approximately €1.3 billion, plus interest and costs.
The Republic of Argentina will file an application for leave to appeal the judgment to the Court of Appeals on June 30, 2023.
Litigation in Spain
As of June 18, 2023, three plaintiffs have filed enforcement actions against the Republic in Spain.
The total amount sought to be enforced against the Republic in these three cases is €450 million. Two of the cases are currently in pre-trial proceedings. The third case was decided in favor of the Republic of Argentina and the plaintiff has not appealed.