ATFA Affirms Congressional Concerns Over World Bank Lending to Argentina
Senator Mark Kirk (R-IL) sends letter to Treasury urging suspension of loans
WASHINGTON, June 29, 2011 /PRNewswire-USNewswire/ -- American Task Force Argentina (ATFA) today applauded Senator Mark Kirk (R-IL) for his leadership in calling for the suspension of loans by multilateral institutions to nations that fail to comply with U.S. and international court rulings. ATFA Executive Director Robert Raben expressed appreciation for Senator Kirk's request for Treasury Secretary Geithner to instruct the U.S. representative to the World Bank to oppose loans to countries like Argentina that fail to abide by the World Bank's ICSID rulings and U.S. court judgments.
"Argentina has refused to recognize and obey U.S. and international court judgments against it for far too long. Senator Kirk's request to Secretary Geithner shows the growing determination in Congress to stop countries like Argentina from continuing to borrow from institutions funded by the United States while they blatantly disregard the rights of our citizens and the rule of law," said ATFA Executive Director Robert Raben. "We urge Secretary Geithner to listen to Senator Kirk and oppose new World Bank loans to Argentina until the Argentine government learns to respect the laws of international lending."
Senator Kirk's letter argues that, "Despite Argentina's failure to repay United States creditors in accordance with court judgments, Argentina has continued to receive loans from the World Bank. Argentina should be precluded from World Bank lending until it resolves its foreign debts and fulfills the conditions for rulings against it. American taxpayers, pensioners, bondholders and businesses have all been harmed by Argentina's failure to honor their debt obligations."
Click here to view Senator Kirk's letter to Secretary Geithner on World Bank lending.
Made up of an alliance of diverse organizations, ATFA is led by Executive Director Robert Raben, a former Assistant Attorney General at the U.S. Department of Justice, and two co-chairs, The Honorable Robert J. Shapiro, former Under Secretary of Commerce for Economic Affairs in the Clinton Administration, and Ambassador Nancy Soderberg, Ambassador at the U.S. Mission to the United Nations in New York from 1997 to 2001.
For additional information on ATFA's activities, please visit www.atfa.org, or contact [email protected], or +1-888-662-2382.
SOURCE American Task Force Argentina
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