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ATFA, German Bondholders Call on G8 Governments to Hold Argentina Accountable for its Debts
Press Release
April 24, 2007

Wednesday, April 25, 2007

Contact: media@atfa.org

International: +1- 202-262-6529

www.atfa.org


ATFA, German Bondholders Call on G8 Governments to Hold Argentina Accountable for its Debts


FRANKFURT American Task Force Argentina (ATFA) Co-Chair Robert J. Shapiro joined the First German Society of Bondholders (IGA) in a joint Argentine bondholders' conference in Frankfurt, Germany yesterday, calling on G8 governments to make Argentina's nonpayment of its debt obligations a priority in their bilateral relations.


At the conference, Dr. Shapiro, former U.S. Undersecretary of Commerce, told attendees, "in addition to our work in Washington, we have embarked on an international road show, uniting bondholders from Italy to Germany to the United States. We are calling on our governments to request that Argentina respect the norms of international lending and quickly enter into good-faith negotiations with bondholders."


Following Tuesday's conference, Shapiro traveled to Berlin for the remainder of the week to meet with senior officials in the German Parliament and Ministry of Finance to discuss collaborative efforts on the issue.


Shapiro said, "With over $37 billion in foreign reserves, Argentina can afford to pay back its creditors today and should do so by entering into negotiations with holdouts. Until then, we will continue our work to educate the public and international governments about the impact of Argentina's default and its impact on international lending to developing countries."


ATFA, through a variety of events and research initiatives, works to encourage the United States government and other stakeholders to take action on behalf of American taxpayers, businesses and bondholders.


For more information about the event, please e-mail: media@atfa.org or call +1- 202-262-6529.

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