WASHINGTON, Sept. 21, 2011 /PRNewswire via COMTEX/ -- Administration Announces Opposition to All Loans to Argentina until it Settles Outstanding Debts
During today's Financial Service Committee International Monetary Policy and Trade Subcommittee hearing, "The Impact of the World Bank and Multi-Lateral Development Banks on National Security," Marisa Lago, Assistant Secretary of Treasury for International Markets and Development, announced that the Administration will oppose all loans from multilateral development banks to Argentina moving forward. Since defaulting on its debt a decade ago, Argentina has flouted its financial obligations to U.S. and international bondholders, and ignored both U.S. court judgments and rulings of the World Bank's arbitral body, the International Centre for Settlement of Investment Disputes (ICSID).
http://www.marketwatch.com/story/atfa-l ... 2011-09-21