YPF has an important role

YPF has an important role
August 30, 2023 – 09:53

Javier Milei and his main economists of reference raised the possibility of leaving the mythical Argentine company in the hands of private individuals to obtain the foreign currency to carry out its dollarization project.

in the middle by the debate over dollarization, Javier Milei tried to explain how he would get the dollars to carry out his proposal. In an interview he stated that “the best YPF is the one that generates value and the best way to generate value is with the private sector” and his leading economists joined him. Although YPF is not the only company in the libertarian’s sights to get hold of Dollars and shrink the fiscal deficitthe truth is that more voices are joining in to demonstrate against this initiative and talk about the role that the company has in Energy Matrix most important in Argentina.

In a recent interview, the former Macrista official Nicholas Gadano spoke with Ernesto Tenembaum on Radio con vos about the role of the company and discussed Milei’s proposal: “What worries me the most when I hear about the privatization on Milei’s side, and that involves Ocampo, is that this proposal does not arise from a discussion about how YPF can be a tool or not, which is a legitimate discussion, of Argentine energy policy. But it is something similar to that of 99 and the sale to Repsol”.

“At that time the money was used to finance the fiscal deficit. Right now, from what one hears, Ocampo, etc., are thinking about using those funds for all this trustee scheme and dollarization, and to get the dollars for dollarization. I understand. Then it would be raffle off a public asset to finance the fiscal deficit or to finance a whim of dollarization,” explained the economist.


“I believe that the YPF format that we have since the expropriation law, 51% state and 49% private, can work. And there is a role, if YPF is well managed, and there is learning there. I believe that YPF has to be managed independently of political power and basically by oil tankers, not by politicians and not by financiers“, he added.

At that time, Gadano highlighted the role that the company has for the sector: “YPF has an important role. YPF was very important, not only for YPF, but for all the other companies that participate in the oil industry Argentina, and that this is very positive. It’s not even close to being a monopoly and that’s good.” And he argued that the company played a key role in taking the first steps to Dead cow and the project of LNG export.

Among the pending accounts of the company, he maintained that “it must be managed better” but that YPF “far from being an important problem for energy policy, is a tool to enhance the resourcesto generate more projects, not only so that YPF can grow, but also so that other companies can grow Argentine companies, internationals working in Argentina. So, that is the general vision that we have about YPF.”

Source: Ambito

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