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Argentina : towards a possible new withdrawal from ICSID ?
by
Nicolas Boeglin
4 May 2012
In order to resolve any disputes that may arise between States and foreign investors, was established in 1965 under the World Bank, the International Centre for Settlement of Investment Disputes between foreign investor and State (ICSID) with the adoption of the Washington Convention of 1965, establishing an arbitration mechanism for resolving such disputes under the auspices o World Bank. ICSID IN THE AMERICAN HEMISPHERE: Contrary to some opinions defending the fact that ICSID mechanism (...)
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Open letter to the Argentine people concerning the expropriation of the petroleum multinational Repsol
by
CADTM Abya Yala Nuestra America,
CADTM Europe
24 April 2012
CADTM Abya Yala Nuestra America, (CADTM AYNA) and CADTM Europe firmly support the sovereign right of the Argentine nation to declare YFP, the principal petroleum company operating within its territory, to be of public utility and to proceed to the expropriation of the stock held by the Spanish multinational Repsol. We fervently reject the international campaign of menaces and calls for heavy sanctions against Argentina initiated and transmitted by unscrupulous bosses, the Spanish (...)
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Los buitres que quieren la piel de Argentina
por
Stéphanie Jacquemont
18 de abril de 2012
Desde hace poco tiempo Argentina es blanco de ataques en varios frentes, relacionados con la suspensión de pagos de su deuda decidida en 2001, y con procedimientos ante el CIADI (Centro Internacional de Arreglos de Diferencias relativas a Inversiones), un tribunal de arbitraje del Banco Mundial muy controvertido. El 26 de marzo de 2012, el departamento de comercio exterior de Estados Unidos suspendió a Argentina de su sistema generalizado de preferencias (SGP), un mecanismo que permite (...)
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The vultures that want to bring Argentina to its knees
by
Stéphanie Jacquemont
17 April 2012
Argentina has recently been assaulted on several fronts. These attacks are related to the 2001 suspension of payment on its external debt and to cases brought against the country before the ICSID (International Centre for the Settlement of Investment Disputes), the controversial World Bank arbitration tribunal. On 26 March 2012 the United States supended Argentina from its General System of Preferences (GSP), a mechanism allowing preferential tariffs to developing countries. According to (...)
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Europe should learn from Argentina’s experience of fighting off vultures, before it’s too late
by
Nick Dearden
11 August 2011
Last year we won a campaign against what we call vulture funds - companies that buy up defaulted developing country debt cheaply in order to sue the country concerned for the full value of that debt. These companies have blighted countries like Democratic Republic of Congo, Zambia and Liberia for years, threatening to drain their already depleted treasuries in order to make a substantial profit. The day before the British Parliament was dissolved for the 2010 election, parliamentarians (...)
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Argentina. Defy the Creditors and Get Away with It
by
Walden Bello
4 November 2010
The unexpected death a few days ago of Nestor Kirchner deprived not only Argentina of a remarkable, albeit controversial leader. It also took away an exemplary figure in the Global South when it came to dealing with international financial institutions. Kirchner defied the creditors. More importantly, he got away with it. The Collapse The full significance of Kirchner’s moves must be seen in the context of the economy he inherited on his election as Argentine president in 2003. The (...)
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CADTM AYNA Network holds Seminar entitled "Proposals and Social Alternatives Sovereign Debt Against"
by
Daniel Munevar
22 October 2010
The 16th and 17th of September of 2010, took place in Buenos Aires, Argentina, the Seminar "Sovereign and Social Alternatives Proposed Against Debt" organized by the CADTM AYNA Network. With the presence of more than 80 participants, the discussion allowed to analyze the recent trends in the evolution of public debt at the regional level and highlighted the importance of undertaking sovereign measures as a key tool in the fight against the system of the debt. The activities began with a (...)
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Truth, Memory, Justice on Argentina’s debt
by
Dialogo 2000
18 August 2010
Congress moves towards an investigation demanded by those affected by a debt accumulated on the basis of serious crimes Dialogue 2000 welcomes the recent adoption by three Committees of the Chamber of Deputies, of a nearly unanimous opinion on a draft resolution to create a Special Commission of Inquiry into Argentine Public Debt. We further urge the full House to approve the proposal quickly and to ensure prompt implementation of the investigation. We also call on the many sectors of the (...)
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Declaration
Argentina. Ten Years After the Olmos Judicial Ruling on the Illegitimacy of the Debt: Audit or Keep Paying?
15 July 2010
Ten years ago today, July 13, 2000, Argentine Federal Judge Jorge Ballestero ruled on the illegality, illicitness, and fraud of the public debt contracted by the military dictatorship between 1976 and 1983, in the case to which journalist Alejandro Olmos devoted the last 18 years of his life. This ruling condemned the illicit maneouvers and crimes commited in the process of indebting Argentina and it was remitted to the National Congress for its respective treatment according to (...)
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Developing countries: dangerous times for the internal public debt
by
Eric Toussaint
11 October 2008
Since the second half of the 1990s, the internal public debt of the world’s developing countries has increased significantly. This increase is now reaching alarming proportions in a number of middle-income countries. While some very poor countries have not yet been affected, the historical trend indicates a continuing rise in the debt level for developing countries. At enormous cost to the countries concerned. According to the World Bank, the internal public debt of all developing countries (...)
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