Subcommittee on the Western Hemisphere

Representing the Bronx, Westchester, and Rockland Counties
Offices in the Bronx, Mount Vernon and West Nyack
2161 Rayburn HOB, Washington, DC 20515
Contact: Eric Jacobstein or Jason Steinbaum, 202-226-9980
For Release: Thursday, July 17, 2008

STATEMENT BY CHAIRMAN ENGEL ON ARGENTINE ANNOUNCEMENT TO REPAY PARIS CLUB DEBT

Washington, D.C. – Congressman Eliot L. Engel, Chairman of the House Foreign Affairs Subcommittee on the Western Hemisphere, released the following statement regarding Argentine President Cristina Fernandez de Kirchner’s announcement yesterday that her country will pay its entire $6.7 billion debt to the Paris Club group of creditors:

“I congratulate President Cristina Fernandez de Kirchner and the Argentine government for pledging to pay its entire $6.7 billion debt to the Paris Club. I had the good occasion to travel to Buenos Aires in February where I met with President Fernandez de Kirchner. I am quite impressed by her leadership of Argentina and also by her excellent Ambassador in Washington Hector Timerman who has played a leading role on this issue.

“I am delighted that Argentina has taken this important step forward, and I hope that it leads to increased investor confidence and economic prosperity for the country. I also believe that yesterday’s announcement will help fortify the already strong relationship between the United States and Argentina. Finally, I look forward to building on yesterday’s momentum by working with the Argentine government as it takes steps to normalize financial relations with all external creditors and the international financial community.”