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The Argentina Sworn Declaration is one of the main files from the Argentina's constitutional process. It includes the basic provisions concerning the formulation and implementation of the Constitution of the country. The document also defines the functions and obligations of the legislature, executive, and the judicial organs of the nation. Additionally, this is a crucial part of legislation which will define the modalities of the nation's political system. The simple purpose of this statement is to make certain the interests of all sectors of society are safeguarded.
The record starts with the President of the Republic of Argentina giving notice to the United States of America and the International Monetary Fund which they're not disinclined to accept or enter into negotiations concerning trade, economic, and monetary policies that influence the country. What's more, in addition, it gives notice to additional states that the government will not participate in war. The state then declares its intention to observe and respect the obligations set forth in the Treaties of Mutual Cooperation and Friendly Relations. It undertakes to provide information to its neighbors regarding its arrears and to refrain from interfering in their internal affairs. Last, but not least, the record confirms that it reserves the rights and abilities to settle international disputes through peaceful means.
Argentina has claimed that the declaration doesn't apply to its overseas debts. Thus, it was able to make a deal with its creditors and restructure its debt from 2021. However, the United States still considers Argentina as a money illegally under the FTAA notification. It requires Argentina to resolve all its outstanding foreign debt prior to implementing the declaration. In doing so, it would create the US-Argentine relationship much more difficult.
The US also objects to the way Argentina is utilizing the funds from the International Monetary Fund (IMF). This assertion was supported by the European Union. The European Union thinks that the money that's lent to the country by the Fund was misused and so it will be recalled from the fund. The Permanent Chamber of Commerce of Argentina is also of the view that Argentina hasn't implemented steps required to prevent itself from becoming a currency manipulator. It also notes the measures announced are temporary.
Argentina's foreign minister insists that there'll be no restrictions on commerce with South American nations that haven't yet joined the Buenos Aires Community of Nations. He also noted that this was just a first step. He anticipates bilateral talks with all the other South American nations to advance smoothly. Meanwhile, the government in Argentina claims that bilateral talks should not exclude the existence of the troika or the European Commission. Argentina reinforces the fact that the troika has expressed concern over the Argentina Uruguay trade relations.
The Argentina Sworn Declaration caused quite a stir among the neighboring countries and the global community. There has been an unprecedented reaction from the international community. Some states claimed that the declaration is null and void and it violates international law. On the other hand, others welcomed the declaration as a positive step towards a stable Argentina Uruguay economic partnership.