Argentina faces a financial crisis as a US judge ordered the country to pay USD 16 bln in damages and interest over the 2012 re-nationalization of its state oil company, YPF SA. Argentina plans to appeal, but this legal hurdle complicates the already precarious financial situation and its plans to return to global debt markets. The ruling comes as Argentina’s USD reserves are at their lowest since 2006, making it uncertain how the country will manage upcoming large debt maturities and its significant debt to the IMF.