Argentina's Economy Minister is accusing Citigroup and a US judge of breaching the country's laws.
U.S. District Court Judge Thomas Griesa has ruled Citigroup, which is one of the trustees in-charge of Argentine government bonds, can begin paying out the money bond-holders are entitled to.
Argentine Economy Minister Axel Kicillof says they're now looking into the deal. "The fine print of this deal seems to be trying to circumvent Argentine law while at the same time listening to Griesa and Griesa forcing them to violate the law and at the same time favour the vulture funds. The agreement is to favour the vulture funds."
Citigroup has been caught in the middle of a battle between the Argentine government and a number of venture-capital firms in the US who have been demanding they be repaid for helping bailout the Argentinian economy.
Argentina has refused to pay back its debts in full, claiming it doesn't have the money, while at the same time, accusing the venture-capital firms of being predatory in moving to help fund the Argentinian government in the first place.
Meanwhile, the Argentine government had threatened to cancel Citibank operating license in Argentina if it makes payments to the bond holders.
