Foreign Ministry 'regrets' US trade decision sanctioning Argentina
Monday, March 26, 2012
Foreign Ministry 'regrets' US trade decision sanctioning Argentina
The Foreign Ministry released a statement on Monday "regretting" US President Barack Obama's decision to suspend Argentina from the US Generalized System of Preferences programme, which waives import duties on thousands of goods from developing countries.
The resolution is part of a larger US effort to pressure Argentina to pay debts and other obligations to US investors a decade after it defaulted.
The Foreign Ministry lamented the “unilateral decision” and explained that the companies involved in the dispute at the World Bank's International Centre for the Settlement of Investment Disputes (ICSID) "never accepted the Argentine proposal to solve this dispute according to the rules of the ICSID. Instead, they chose to force us into a ruling that goes against our own legal system”
The Argentine government says paying the fines demanded by US investors is "unconstitutional" and recalled that “the US did not accept a settlement and insisted on a system contrary to legal scheme in effect in Argentina.”
More:
http://www.buenosairesherald.com/article/96467/foreign-ministry-regrets-us-trade-decision-sanctioning-argentina