U.S. Opposes Loans to Argentina to Force Debt Accord, Payments
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The U.S. is seeking to halt development loans to Argentina as a way of pressuring President Cristina Fernandez de Kirchner to make payments owed investors and settle with holders of defaulted debt.
The U.S. voted against financing two projects for Argentina valued at a combined $232 million this month at the Inter-American Development Bank, a spokeswoman for the Treasury Department said yesterday. The Obama administration also plans to vote against additional lending from the World Bank, Marisa Lago, Treasury’s assistant secretary for international markets and development, told lawmakers last week.