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Similarities between the country and Congo Elliott Assocates, a common enemy
La Nacion
July 20, 2008

By Hugo Alconada Mon

NEW YORK.- The international default of the Republic of Congo and its international disputes with creditors offer two points of contact with Argentina. In addition to sharing Elliott as a common enemy, both countries are defended by the powerful international law firm, Cleary, Gottlieb, Steen & Hamilton.

Elliott maintains another channel for its disagreements with the Casa Rosada. Perhaps the best known is the American Task Force on Argentina (ATFA, its acronym in English), in which it appears as a member and with which it pushes its demands in the political halls of Washington and European capitals such as Berlin, Rome and London.

But the Elliott fund, which in the late 90's succeeded in getting Peru to pay US$58 million for bonds that it bought for much less than half of that amount, is confident that it will conclude an agreement with Argentina. And with a business portfolio estimated at US$10 billion -- a little more than the annual Gross Domestic Product of Paraguay -- it has plenty of time, energy and patience. Like any vulture.