After ICSID Tribunal established jurisdiction on two sovereign debt restructuring disputes concerning Argentine as defendant, the academe has opened a heated discussion on the jurisdiction of the Tribunal. The relationship between Article 25 of the ICSID Convention and the "consent" of a BIT indicates that the jurisdiction of the tribunal needs to be determined through a double keyhole approach. While the core issue of the jurisdiction is the investment nature of sovereign bonds. Judging from the Salini Test, the sovereign bond can meet these objective examination criteria and then be governed by the Tribunal. ICSID arbitration has the legal feasibility to settle the dispute from sovereign debt restructuring, so it can be regarded as a solution as long as it is properly applied.