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White House nominee for senior Treasury post withdrawn

The Trump administration withdrew its nominee for assistant U.S. Treasury secretary for international finance, Adam Lerrick, amid questions about his role as an advocate for bondholders in a dispute with Argentina, the Financial Times reported May 10.

The White House did not give a reason for withdrawing Lerrick's nomination. The Treasury and Orrin Hatch, chairman of the Senate Finance Committee, which was considering the nomination, declined to comment, the FT said.

Congressional investigators vetting Lerrick raised questions about his role as chief negotiator for a group of bondholders in Argentina's 2005 debt restructuring. Questions were raised about his links with the Argentine Bond Restructuring Agency, which had used a children's charity to set up a tax-efficient vehicle, The Irish Times reported in July 2017.

Lerrick has also been an outspoken critic of the World Bank and the IMF, advocating radical changes at those institutions, the FT reported.