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World Bank reminds Argentina of G20 duties and urges payment of defaulted debts
MercoPress
September 27, 2011

Argentina should pay its debt with the Paris Club group of creditor nations if it wants to continue receiving foreign investment, said Paolo Martelli, director for Latin America of the World Bank's International Finance Corp, reports Buenos Aires daily La Naci n.
It's unclear whether other nations will follow the US government's recent decision to vote against loans to Argentina in the World Bank and Inter-American Development Bank until the country pays defaulted debt, Martelli said, according to La Naci n.

"It would be encouraging for the Argentine government to resolve its pending debts with the Paris Club and corporations which won court actions overseas, so that large medium term investments can feel attracted and not undergo difficulties such as those interposed by the US in credits to Argentina, and which could add other G20 members", said Martelli who as head of the IFC deals with World Bank loans for the private sector.

For the full text of the article, visit: http://en.mercopress.com/2011/09/27/world-bank-reminds-argentina-of-g20-duties-and-urges-payment-of-defaulted-debts

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