Statement from the Holders of Argentine EUR-denominated GDP Warrants

LONDON, Aug. 12, 2025 /PRNewswire/ -- The Claimants, who have obtained judgment against Argentina on behalf of all Euro GDP warrants holders and are represented by Quinn Emanuel, refer to the recent Staff Report published by the IMF dated 25 July 2025.

That Staff Report references the existence of ongoing good faith negotiations between the warrant holders and the Republic to resolve arrears on the judgment debt by way of a repayment plan.  The Claimants consider it important to clarify that no negotiations between themselves and the Republic are on foot. The Republic has said it will attend such negotiations, but has refused to agree a time or place for them to occur.  In the meantime, the Republic is refusing to cooperate in steps taken by the Claimants to enforce the judgment debt on behalf of warrant holders.  The Republic is also failing to pay the daily interest accruing on the outstanding judgment debt.

The Claimants have written to the IMF to confirm that no negotiations are taking place, let alone negotiations conducted in good faith by the Republic. The Claimants have asked the IMF to update its Staff Report accordingly.

The Claimants note that the IMF Staff Report assumes a return to foreign-law FX bond issuance by 2026. While the Claimants remain supportive of the Republic's return to the capital markets, it will be necessary for the Republic first to conclusively address its external arrears, particularly those in respect of antecedent debt issuances, given its extensive history of default. To that end, the Claimants encourage transparent engagement from the Republic with both the IMF and warrant holders in respect of its external arrears and plans to resolve those arrears.  The Claimants continue to be ready and willing to engage with the Republic in those discussions. However, despite that willingness on the part of the Claimants, and contrary to the IMF Staff Report, no discussions are taking place.

Aidan O'Rourke, on behalf of the Claimants
Quinn Emanuel Urquhart & Sullivan UK LLP
90 High Holborn, London WC1V 6LJ
E-mail: [email protected]
Phone: +44 20 7653 2019

SOURCE Quinn Emanuel Urquhart & Sullivan UK LLP