Argentina approved law that authorizes payment of debt in its territory

A new law was approved today, which will allow creditors of Argentina in the USA, UK and Japan (who can not charge money because of the American court blocking), to receive their money in Buenos Aires if they accept it.

This change of payment place was approved by the Chamber of Deputies of Argentina.

Under the new law, Argentina will deposit on September 30th a new debt maturity under the US, UK and Japan law in a new trustee, the state-owned Nación Fideicomisos, based in Buenos Aires.

If the creditors do not accept to charge there, they may propose another country, as long as it is sheltered from the justice of the United States.

The adopted bill also allows the government to offer an exchange of debt for bonds under Argentina or French law.