WORLD BANK LOANS TO ARGENTINA

Motion Text

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, 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, of which Britain's share amounted to over 200 million; welcomes 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.