Romford MP Andrew Rosindell backs motion to deny Argentina World Bank cash
Romford’s parliamentarian is backing a drive to stop Britain funding loans to Argentina amid the row over the Falklands.
MP Andrew Rosindell has supported an early day motion (EDM) in Parliament calling on the Government to oppose further World Bank loans to the South American country.
The EDM also highlights that Britain’s share of World Bank loans to Argentina is some $200 million from a total of $16.2 billion in outstanding loans in total.
Mr Rosindell is one of 29 signatories currently on the early day motion – a formal motion submitted for debate in the House of Commons.
The EDM – which he has sponsored – also welcomes a decision by US President Barack Obama to adopt a policy of voting against World Bank loans to Argentina.
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This is in protest over the country’s failure to meet its obligations to previous lenders.
Argentina’s President Cristina de Kirchner has stoked up a new row over the Falklands by re-stating her country’s claim to sovereignty.
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She has called upon the UN to step in to the issue while adverts showing an Olympics athlete preparing for the games on the Falklands have also led to criticism.
Argentina default on its huge debt in 2001 and declined to repay $81,000,000,000 that had been loaned to the country.
The Falklands War was caused when Argentina invaded the islands in 1982.