US doubles down on Argentina, urges country to cancel debt

Argentina must go back to being in good terms with its creditors, US State Department spokeswoman Victoria Nuland says, only a week after a US Treasury Official announced her country will oppose granting any credits to the country in international organizations.

“As a government, we have encouraged Argentina to solve its unfinished business,” within the World Bank’s international disputes centre, the CIADI, and take all necessary measures in order to go back to being in good terms wit its creditors,” Nuland said.

After Argentina refused to “honour its creditors and work with international organizations,” the US will vote against granting the country with credits from the World Bank and the Inter-American Development Bank,” a high-ranking Treasury official had said last week.

At the same time, State Department Under Secretary for Economic, Energy and Business Affairs José W. Fernández didn’t rule out any new measures against the country if it doesn’t go back to dealing with its international commitments.

Argentina has cancelled its debt with foreign investors almost in its entirety since it defaulted in 2001, but still owes 6.1 billion dollars.

Congressmen and creditor’s groups have asked the Obama administration to apply more pressure on Buenos Aires so it will finally cancel the debt.