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MPs call for UK to vote against World Bank loans to Argentina to counter Falklands’ aggression

Friday, July 6th 2012 - 15:15 UTC
Full article 346 comments
Tory MP Andrew Rosindell a strong supporter of the Falklands presented the motion Tory MP Andrew Rosindell a strong supporter of the Falklands presented the motion

Twenty nine British MPs have called for Britain to vote against Argentina receiving any more money from the World Bank. The group signed an early day motion in Parliament that was put forward by Conservative MP for Romford, Andrew Rosindell, who had previously visited the Falklands.

The motion appealed for the Government to follow the example of the United States and vote against the World Bank lending any more money to Argentina.

The early day motion read: “That this House notes that despite repeated attacks on Britain and the right of Falkland Islanders to remain British, Argentina receives substantial loans from the World Bank.

“It is an organisation in which Britain is a major shareholder, and that the Government does not use its votes to oppose those loans; further notes that, as of March 2012, total outstanding loans to Argentina from the World Bank were 16.2 billion dollars, of which Britain’s share amounted to over 200 million.

“We welcome the decision by President Obama’s administration in the US to adopt a policy of voting against any new loans to Argentina on account of its failure to respect its obligations to earlier lenders; and call on the Government to vote against any new World Bank loans to Argentina”.

Likewise the UK Tax Payers’ Alliance last month launched an online petition called StopFundingArgentina.org. It urged British ministers to use their votes to oppose further loans of the World Bank to Argentina.

A spokesman for the Taxpayers’ Alliance said: ‘Britain can and should act to stop further World Bank loans to Argentina. This is a key opportunity to show that our aid policy reflects rather than ignores Britain’s broader national interests.

The Argentine government has launched recent attacks on British interests by advocating a boycott of British goods and has become increasingly aggressive in its sovereignty claims over the Falklands targeting the Islands economy and well-being of its people.

A spokesman for the British Department of International Development said: “No British taxpayers’ money is spent on World Bank loans to Argentina. The Secretary of State will consider Britain’s position on any future World Bank loans when the time comes”.

However, according to the Taxpayers Alliance Britain’s share of Argentina’s outstanding loans is over £225 million, based on the UK’s shareholding of the two World Bank institutions who lend to the country. (PN/MP).
 

Top Comments

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  • Searinox

    in just a few days, the “Bank of the South” will be created to work like the World Bank, but with money from all SouthAmerican countries...
    when you bought a pant, we already made Bermuda with it...

    Jul 06th, 2012 - 03:35 pm 0
  • WestisBest

    Good, you won't be wanting any more dosh from the world bank then will you?
    ;-)

    Jul 06th, 2012 - 03:42 pm 0
  • Rule Brittania

    yeah i can't see brazil or chile rushing to pump money into a country that has already shown complete contempt in honouring loan agreements

    Jul 06th, 2012 - 03:43 pm 0
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