News Center

ATFA Executive Director Robert Raben Calls on Paris Club to Stand Firm with Argentina
Press Release
October 01, 2007

Contact: media@atfa.org
1-888-662-2382


WASHINGTON - Today, American Task Force Argentina (ATFA) Executive Director Robert Raben called on U.S. Treasury Secretary Henry Paulson to urge the Paris Club to stand firm with Argentina in resolving its debts and address the need for Argentina to pursue an arrangement with all creditors, public and private alike.

Argentina will address only its Paris Club debt, while continuing to ignore its private debt obligations, against the recommendations of US officials, according to recent reports.

The Argentine daily, Clarin, reported on Sunday:

"Once the situation with the Paris Club is normalized, to complete the renegotiation of the Argentine external debt would fall to the bondholders that didn't accept the debt swap of 2003/2004- the holdouts. "They will have to negotiate with those bondholders," said U.S. diplomatic sources on Friday. "There is nothing planned with the holdouts," the Ministry of Economy shot back today."

In response, ATFA Executive Director Robert Raben stated "U.S. officials, led by Treasury Secretary Paulson, must continue to push Argentina to act judiciously in the international community. The members of the Paris Club should insist that any settlement with the government creditors is part of a larger process to settle all of Argentina's outstanding debts, including those owed to the private bondholders."

To view the full Clarin article, visit www.atfa.org.

ATFA, through a variety of events and research initiatives, works to encourage the United States government and other Argentine debt stakeholders to take action on behalf of American taxpayers, businesses and bondholders. ATFA's website, www.atfa.org , serves as a clearinghouse for news and information related to Argentina's restructuring and the ATFA's efforts.

Made up of an alliance of organizations, ATFA's leadership includes former Assistant Attorney General at the U.S. Department of Justice, Mr. Robert Raben, as Executive Director and is co-chaired by The Honorable Robert J. Shapiro, former Under Secretary of Commerce for Economic Affairs in the Clinton Administration, and Ambassador Nancy Soderberg, Ambassador at the U.S. Mission to the United Nations in New York from 1997 to 2001.

For additional information, please visit our new website at www.atfa.org, or contact media@atfa.org, or +1-888-662-2382.


###

U.S. Government
Takes Action

Click here to view letters by the Administration and Members of Congress on Argentina's debt and economic policies.

The Debt and Europe

Click Here To Read More

ATFA Member Spotlight

National Taxpayer's Union

Open Letter to the U.S. House of Representatives: Protect Taxpayers from Judgment-Evading Nations

Click here to view other ATFA member activity

Join Us
Show your support for ATFA and our work regarding debt default by joining our growing list of supporters.

Tell Your Friends
Do you have friends or colleagues who would be interested in supporting ATFA? Send them an invitation to this site by clicking here.