Latin News Daily Report - 17 November 2011

Argentina: President Barack Obama personally stressed to President Cristina Fernández de Kirchner the importance for Argentina to “honour its pending debts with international creditors” in their recent meeting at the G20 summit in Cannes, according to the Argentine daily `La Nación’. Roberta Jacobson, the Acting Assistant Secretary of State (who is pending her confirmation), said in a recent senate appointment hearing that the Obama administration was considering the possibility of imposing trade sanctions on Argentina because of the country’s refusal to abide by rulings of the World Bank International Center for Settlement of Investment Disputes (Icsid). The Icsid has ruled in favour of two US companies, Azurix (in 2006) and Blue Ridge (in 2010), who claim that they are owed a combined total of US$300m by Argentina.

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