Congress: Union for the Homeland demanded the formation of bicameral groups to control debt and privatizations

The block of deputies of Union for the Homeland (UP) denounced this Thursday that the government of Javier Milei does not want him Congress work and demanded the formation of bicameral commissions to “be able to control” debt renegotiation and privatizations. In the last few hours, it was confirmed that a company linked to Donald Trump is about to take over IMPSA.

“Milei does not want the Budget law or legislation on a very sensitive issue such as the renegotiation of the public debt,” said the president of the UP bloc. German Martinez, in a publication made on the social network Instagram.

The head of the Peronist bloc in the lower house said that the libertarian president also does not want “bicameral commissions function, which are fundamental for parliamentary control”. “That is why today we once again demanded, by note from the Unión por la Patria bloc, that key bicamerals be constituted,” he added.

In that sense, he complained to the president of the Chamber of Deputies, Martin Menemalready the vice president and head of the Senate, Victoria Villarruel that “they fulfill their role and their responsibility” because “we want a functioning Congress”

Then he added: “We want the commission that follows the issue of foreign debt to work. We want to control the social security funds, the FGS. “We want to follow what happens with privatizations in Argentina to the law.”

The formation of the privatization monitoring commission is demanded by the majority of the opposition blocs. In the Base Law It had been established that this bicameral commission will have to control the bidding process of companies that can be sold by the State in whole or in part or incorporate private capital.

These are Energía Argentina (ENARSA), Intercargo, AYSA, Belgrano Cargas, Sociedad Operadora Ferroviaria (SOFSE), Corredores Viales, and providing private capital in Nucleoeléctrica Argentina Sociedad Anónima (NASA) and the Carboniferous, Railway, Port and Energy Complex in charge of Río Turbio Carboniferous Deposits (YCRT).

Martínez also demanded that the commission be established on minors who ““is responsible for ensuring the rights of girls, boys and adolescents.”

First privatization of the Milei era: they confirmed that a company linked to Donald Trump is about to take over IMPSA

In the last hours, the national government and the province of Mendoza confirmed the first privatization of the Milei era. These are the shares of the IMPSA company that will be pre-awarded to IAF and his partner Arc Energy, that, according to the official statement, “it will strengthen the Argentine company and guarantee its operation.”

The capital of IMPSA, company founded in 1907, It is integrated with three types of actions: class A, in the hands of the family Pescarmona with 5.3%; class B, in the hands of creditors with 9.8%; through separate guarantee trusts, and the class C shares, which belong 63.7% to FONDEP and the remaining 21.2% to the province of Mendoza.

The Evaluating Commission of offers for the sale of IMPSA – made up of Fondep of the Ministry of Economy, the Agency for the Transformation of Public Companies and the province of Mendoza – resolved to recommend the pre-allotment of the company’s shares held by the national and provincial State to the IAF consortium whose main partner is Arc Energy.

IAF offered 27 million dollars as a capital contribution subject to an integration schedule according to the needs of the company and requested a deadline until January 31 to obtain the refinancing of the debt it owes to Impsa’s creditors, which reaches figure of US$576 million. The Commission evaluated the only offer presented for the acquisition of the shares, which significantly improved the conditions of the initial offer.

IMPSA SA is dedicated to the manufacture of equipment such as turbines, cranes, reactors, supplying the metallurgy, power generation and technology sectors.

ARC Energy was the only bidder when Milei launched the international tender in October to acquire the majority of the metallurgical company’s shareholding. At that time, the national State kept 63.7% of the shares and the province of Mendoza with 21.2%. The rest of the shares are distributed between a fund of creditors (9.78%) and the Pescarmona family (5%).

ARC Energy is based in Louisiana, United States. The president of the firm is Jason Arceneaux, and both he and two of the company’s directors, who are Venezuelan, appeared publicly as contributors to the campaign of Donald Trump.