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Mexico to Back Argentina in Supreme Court Debt Case Appeal

Mexico will support Argentina’s bid for U.S. Supreme Court review of an appellate ruling that the owners of repudiated bonds must be paid in full when the South American country makes payments on its restructured debt, Finance Minister Luis Videgaray said.

The Aug. 23 ruling by a federal appeals court in New York could threaten future sovereign debt restructurings, Videgaray said in an interview at Bloomberg’s Economic Summit in Mexico City. The Supreme Court has been notified of Mexico’s intent to submit a friend-of-the-court brief, due March 24, he said.