MercoPress. South Atlantic News Agency

ALADI supports Argentina's Falklands claim.

Latinamerican Integration Association, ALADI, representatives meeting in Montevideo this Monday for the naming of a new Secretary General, gave their full support to Argentina's sovereign foreign debt restructuring efforts and claim over the Falkland Islands.

In a final document at the closing of the XIIIth general assembly South American countries together with Mexico and Cuba pointed out that given the impact of Argentina's foreign debt, the issue must be addressed taking into account the urgency of the country's "social development".

"In this context we support efforts from the Argentine government and people in their international financial negotiations for the payment of the debt". This is an issue is important for the region and can not endanger "democratic governance or socio-economic development".

Argentina is currently involved in the major bond exchange in history offering to extend 40 billion US dollars in new bonds for 100 billion US dollars in 2002 defaulted sovereign bonds.

ALADI members also expressed unanimous support for Argentina's sovereignty claim over the Falkland Islands in the South Atlantic.

ALADI members include Argentina, Bolivia, Brazil, Colombia, Cuba, Chile, Ecuador, Mexico, Paraguay, Peru, Uruguay and Venezuela.