Argentina, Crystallex And The UK

First Tuesday Update is our monthly take on current issues in commercial disputes, international arbitration, and judgment enforcement. In this update, we look at the ongoing Argentine debt crisis and ongoing efforts to enforce judgments entered against Argentina. Such litigation is particularly topical since, less than a week ago, the Executive Board of the International Monetary Fund completed its first review of Argentina's $20 billion bailout and voted to approve a $2 billion disbursement. Unfortunately for Argentina's creditors, the IMF is immune from most judicial processes, including garnishment, and Argentina is likely taking steps to ensure that these funds will not remain outside its borders for long (or at all) once they leave the IMF. It appears that the package is being used to replenish BRCA's foreign exchange reserves to enable Argentina to loosen capital controls imposed in 2019 and implement a more flexible exchange-rate regime. As of now, there is