I dont think there is a dispute between these two governments, unless there is one, in which case the situation may be very difficult. Probably the IMF spokeman misexplained the real situation meaning that there was a discrepancy between the U.S. and other members regarding the IMF eventual brief. Not a dispute between the U.S. and Argentina. The existing dispute is between Argentina and certain private creditors, who are litigating against Argentina before the U.S. courts. Eventually there could be a dispute between Argentina and the U.S. Courts down the road. But not now.
I also understand that informally the U.S. government has indicated that nothing has changed and they would be ready to step up if the U.S. Supreme Court asks its opinion. They probably would also file an UNINVITED brief in the upcoming appeal regarding the injunction against the Bank of New York Mellon if the ruling from the Second Circuit is negative to Argentina.
Of course, an eventual amicus brief from the U.S. government helps a lot, but obviously the ultimate decision comes from the Supreme Court on (i) granting or denying the certiorari petitions, (ii) staying the decisions from the Second Circuit, (iii) asking Argentina a bond as a condition for the granting the cert petitions, and (iv) deciding the legal issues.
Eugenio A Bruno
eab@garridolawfirm.com
