Argentina to pay $500 mln to end disputes at World Bank -report
BUENOS AIRES, Oct 10 (Reuters) - Argentina will offer about $500 million in compensation to resolve disputes filed by corporations at a World Bank arbitration panel, a local newspaper reported on Thursday.
The payment, to be made in sovereign bonds, will go to five companies that have filed complaints at the World Bank's International Centre for Settlement of Investment Disputes, financial daily Ambito Financiero reported on its website, without citing sources.
Efforts to reach spokespeople at the economy ministry were unsuccessful.
Economy Minister Hernan Lorenzino, in Washington this week for World Bank and International Monetary Fund meetings, aims to unlock up to $1.8 billion credit lines from those institutions, something which the United States has made efforts to block due to Argentina's disputes with U.S. companies, the website said.
In May 2012 the United States suspended Argentina from the U.S. Generalized System of Preferences (GSP) program, which waives import duties on certain goods from developing countries, after the South American nation failed to pay about $300 million in compensation awards in disputes involving two companies.