A US appeals court will hold a hearing on April 13 to analyze the possible lifting of injunctions that have restricted Argentina from paying off some of its debts, according to an order issued by the court late on Friday. On Thursday, the US government asked the 2nd US Circuit Court of Appeals in New York to uphold the lifting of the injunctions, given the country's efforts to settle litigation over bonds in default since 2002.
The brief was filed following a visit to Argentina by US President Barack Obama, who praised the pace of reforms taken by President Mauricio Macri, the country's new center-right leader. Argentina's previous leader Cristina Fernandez had a chilly relationship with Washington and refused to negotiate with US-based creditors suing Argentina over its 2002 debt default.
The date of the appeal court hearing is one day before the April 14 deadline established for Argentina to deliver a $4.65 billion payout to key "holdout" creditors, as agreed in a February deal that could allow the country to return to international debt markets after almost 15 years.