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FOR IMMEDIATE RELEASE
January 28, 2009
Media Contact:
Allen Gutierrez
(949) 546-0476
agutierrez@thelatinocoalition.com
The Latino Coalition Joins American Task Force Argentina
Partnership Fortifies Movement to End Foreign Lender Mistreatment in Latin America
WASHINGTONâ??The Latino Coalition (TLC) today joined the American Task Force Argentina (ATFA) in the growing movement to end mistreatment of foreign lenders in Latin America, particularly in Argentina. Last month Ecuadorian President Rafael Correaâ??s defaulted on $3.8 billion in government debt owed to foreign lenders when the country had $5.65 billion in reserves â?? more than enough to pay back its debt.
â??The Latino community has an increasing presence in the U.S. and continues to make remarkable inroads in business and government,â?? The Latino Coalition Executive Director Allen Gutierrez said. â??Countries like Argentina and Ecuador should not be allowed to get away with their unfair treatment to American lenders and disregard for our rule of law. Argentina should pay their debt to promote job security and economic development for working families in Latin America, especially in their own country. Our partnership with ATFA will assist us in our mission to achieve the full economic and social potential for our members in the United States and Latin America.â??
ATFA is an alliance of organizations united for a just and fair reconciliation of the Argentine governmentâ??s 2001 debt default and subsequent restructuring. The member organizations work to encourage the United States government to vigorously pursue a negotiated settlement with the Argentine government in the interests of American stakeholders.
â??ATFA's growing membership demonstrates the serious concern in the U.S. and abroad that Argentina's debt default has lasting ramifications," said ATFA Executive Director Robert Raben. "Latin American workers need access to international capital markets in order to achieve global competitiveness, but Argentina's outstanding debt makes economic progress difficult for the entire region. Congress and the incoming Administration must act swiftly to resolve this situation for the benefit not just of the United States, but also to help Latin America achieve economic health.â??
Made up of an alliance of organizations, ATFAâ??s leadership includes former Assistant Attorney General at the U.S. Department of Justice, Mr. Robert Raben, as Executive Director and is co-chaired by The Honorable Robert J. Shapiro, former Under Secretary of Commerce for Economic Affairs in the Clinton Administration, and Ambassador Nancy Soderberg, Ambassador at the U.S. Mission to the United Nations in New York from 1997 to 2001.
For additional information on ATFA, please visit their website at www.atfa.org, or contact media@atfa.org, or +1-888-662-2382.
About The Latino Coalition
The Latino Coalition (TLC) is a non-profit, nationwide organization based in California, with offices in Washington, D.C. and Mexico. TLC was established to address policy issues that directly affect the well-being of Hispanics in the U.S. TLCâ??s agenda is to develop initiatives and partnerships that will foster economic equivalency and enhance overall business, economic and social development of Latinos.
For more information, visit the TLC website at www.TheLatinoCoalition.com
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