Argentina Sues United States at International Tribunal
Suit Alleges US Court’s Debt Decision Violates Sovereignty
Washington, DC – Argentina filed suit against the United States at the International Court of Justice (ICJ). The lawsuit argues that the US 2nd Circuit Court decision between Argentina and predatory hold-out funds violates Argentina’s sovereignty. The court is a United Nations body and can only hear the case if the United States government agrees to accept the ICJ’s jurisdiction.
Eric LeCompte, Executive Director of the religious anti-poverty coalition, Jubilee USA Network, releases the following statement:
“This case illustrates that we need basic rules of responsible lending and borrowing in place in order to stop predators.
“If we had an international bankruptcy process, countries from Argentina to Grenada never would default and predatory actors are forced to sit at the table.“
Jubilee USA Network is an alliance of more than 75 US organizations, 400 faith communities and 50 Jubilee global partners. Jubilee’s mission is to build an economy that serves, protects and promotes participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world’s poorest people. www.jubileeusa.org