Even as Argentine President Cristina Kirchner tries to strangle the Falkland Islands? economy, the International Monetary Fund ? part-financed by the UK ? is set to back Buenos Aires in a battle with US hedge funds.
IMF boss Christine Lagarde wants to petition the US Supreme Court to overturn a lower court?s ruling that Argentina must pay up.
Britain has committed ?29billion to the IMF, which plays a key role in trying to keep the global economy afloat. The cash is available for use in loans.
Last night MPs questioned why British taxpayers should help Argentina while Mrs Kirchner?s government bans cruise ships if they have visited the Falklands and opposes oil exploration off the islands.
Tory MP Mark Pritchard said: ?UK taxpayers should not be left indirectly paying for Argentinian debt. US Courts need to uphold the law, and ensure defaulters pay their debts.?
Fellow Tory Stuart Jackson said: ?It is the view of the British public and more importantly of the Falkland Islanders that they are British and wish to remain so.
?They would think giving money to an organisation which supports something which is not in British interests is peculiar. The Foreign Secretary and the Chancellor of the Exchequer need to look at this funding and seek reassurances from the IMF.?
The IMF claims a long litigation could have worldwide implications for governments trying to reduce their debts. Neither it nor the Treasury would comment last night.
A decision on the IMF?s stance over Argentina?s debts will be taken by its board, which is made up of representatives of its member states.
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