§ Sir David Priceasked the Minister for Trade what is his latest estimate of the effect of the economic sanctions placed upon the Argentine by the United Kingdom's partners in the European Economic Community, by the Commonwealth and by the Organisation for Economic Cooperation and Development countries; and if he will make a statement.
§ Mr. Peter Rees[pursuant to his reply, 17 May 1982, c. 6.]: It is not possible to make an accurate assessment of the effect of these measures on the Argentine economy. About 28 per cent. of the Argentine's exports are affected by import bans and an even higher percentage of its imports by the suspension of export credit. These measures have already had an immediate impact on the Argentine economy and international confidence in it.