When Argentina’s president announced plans to nationalise an oil company in 2012, it was presented as a way to grow the country’s wealth. Eleven years on, a court in New York City decided that the country owes some of the oil company shareholders $16bn. The FT’s Joe Miller and Ciara Nugent explain why this has happened. And, we look at what this means for Argentina, as it grapples with skyrocketing inflation and an important presidential election later this month.

Clips from CNN, NBC News, Reuters, Televisión Pública

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For further reading:

After $16bn judgment, Burford’s next battle will be making Argentina pay

Argentina radical rightwinger shakes up presidential race with primary win

Burford chief executive fears Argentine reprisals

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On X, follow Joe Miller (@JoeMillerJr), Ciara Nugent (@ciaraCnugent) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

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Argentina’s $16bn saga with a US court

The Story of Money