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American Task Force Argentina Calls on Treasury Secretary Paulson to Urge Argentina to Resolve Debt with International Creditors at G-20
Press Release
November 16, 2007

Friday, November 16, 2007

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

American Task Force Argentina Calls on Treasury Secretary Paulson to Urge Argentina to Resolve Debt with International Creditors at G-20

WASHINGTON, D.C. - Today, the American Task Force Argentina (ATFA) called on U.S. Treasury Secretary Henry Paulson to defend the interest of Americans and the global system of lending to developing nations by insisting that the government of Argentina honor its obligations to U.S. and other foreign bondholders at the Group of Twenty (G-20) meeting in Cape Town, South Africa on November 17 and 18.

The meeting of G-20 Finance Ministers and Central Bank Governors will include Argentina, the European Union, International Monetary Fund (IMF) Managing Director Rodrigo de Rato y Figaredo, and World Bank President Robert Zoellick. Secretary Paulson's participation in this forum will provide a unique opportunity to direct much-needed international attention to Argentina's continuing policy of repudiating outstanding debt owed to international lenders.

"Argentina has defied the rules of international lending by repudiating more than $20 billion in sovereign debt held by thousands of foreign creditors from nations that are all represented at the G-20," said ATFA Co-chair Dr. Robert Shapiro. "The G-20 meeting is an appropriate forum to focus on this unnecessary abuse of the international lending system, its implications for lending to other developing countries, and the remedies that Argentina can pursue to regain its good standing in international markets."

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 damaged by Argentina's repudiation of its debts. 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.

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