The elected president of Argentina, Javier Milei, ratified this Monday one of the ideas he developed during the electoral campaign: the privatization of public media and the majority state oil company, YPF.
“Everything that can be in the hands of the private sector will be in the hands of the private sector.“Milei stated in an interview with radio Miter, the day after winning the runoff that will take him to the Presidency of Argentina on December 10.
Milei mentioned his intention to sell YPF, the oil company controlled by the Argentine State since 2012, a nationalization of the shares in the hands of the Spanish company Repsol that led to a recent ruling in the United States, that forced Argentina to pay 16 billion dollars to the Burford Capital fund and that the State appealed.
“The first thing to do is put it back together,” Milei said about YPF, pointing out “the deterioration” of the company in terms of results that made it worth “much less” than when it was “expropriated.”
YPF was created in 1922 in Argentina and was the first vertically integrated state oil company in the world.but in the 90s the corporate type was changed and in 1999 it was privatized and sold to Repsol, which sold 25% of its share to Petersen Energía from 2007, until the State expropriated 51% of the shares held by Repsol. Repsol in 2012.
“In the transition that we are thinking about in the energy issue, both Enarsa and YPF have a role as long as the structures are rationalized, they are put to create value so that they can be sold in a very beneficial way for Argentines,” explained the president. elect.
YPF shares rise more than 29% on Wall Street and more than 10% in Argentina, after Milei proposed its privatization.
The libertarian economist also stated that “both Public Television and National Radio and the state news agency Télam have to be privatized.”
“Public Television has become a propaganda mechanism“, stated the leader of La Libertad Avanza (far-right) and recalled that 75% of the time that their space was talked about during the electoral campaign was done “in a negative way” and “raising lies and contributing to the campaign of fear.” which, he considered, made him his rival.
“I do not support having a covert propaganda ministry,” Milei said. The leader of La Libertad Avanza (ultaderecha) defeated this Sunday with 55.69% of the votes the official candidate (Peronism), the current Minister of Economy, Sergio Massa, who obtained 44.3%, to occupy the presidency of Argentina.
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