Support Argentina in the struggle against Vulture Funds

Added 12 Dec 2012

Diálogo 2000, member of Jubilee South America, has released the statement "The real debt is to the rights of the people of Argentina" in defense of the rights and sovereignty of the people of Argentina in the face of recent vulture funds actions.

The retention of the frigate Liberty in Ghana, and the recent New York court decisions ordering the country to pay new multimillion dollar sums to Vulture Funds, reveal the persistence of a serious debt problem that continues to condition the present and future of Argentina. As the Dialogo 2000 statement reads "in the most immediate, what is at stake is a new payment equivalent to more than the entire Argentinian national budget for housing and urban development during the year 2013, to speculative funds that never invested in the people´s welfare nor did they accept to restructure their claims after the economic collapse and suspension of debt payments in 2001". This is a new case, among many, of "unethical and unscrupulous" actions of so-called vulture funds. In 2010 a US judge froze Argentinian central bank assets in New York when ruling on another Vulture Fund case against Argentina. In another recent case, the UK's privy council surprisingly ruled against vulture fund FG Hemisphere in a case brought against the Democratic Republic of Congo’s state mining company.

Dialogo 2000 rejects the decisions of the New York court "that does not take into consideration the fraudulence, illegality, and illegitimacy of the process of Argentine indebtedness, totally unrelated to the interests of the people". The statement calls for a public, comprehensive and participatory debt audit; the cancellation of unconstitutional contracts and agreements that establish the resignation of national sovereignty  the confrontation of speculators challenging the illegitimacy of their claims; and the prosecution and punishment of those who illegitimately and unconstitutionally issued bonds, renouncing the country's sovereignty and the rights and heritage of its people.

The statement, released on the Human Rights Day, December 10th, has got 158 endorsements from civil society organisations and personalities from all around the world. Organisational endorsements to the statement may still be sent to:

Read the statement in english

El manifiesto está también disponible en español