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Hector Timerman

At a hearing yesterday, U.S. Federal Judge Thomas Griesa decided to hold Argentina in civil contempt of court, asserting that the country’s recent efforts to circumvent his ruling on debt repayment are illegal.

Early this morning, the lower house of the Argentine Congress passed a bill that will allow for the restructuring of its sovereign debt.

Top stories this week are likely to include: the pope’s visit to Mexico and Cuba; Chávez at home and in campaign mode; Argentina’s threat of legal action on the Malvinas/Falklands; drug decriminalization talks in Central America; and Venezuela taking a stand against narcotrafficking.