YPF’s problem did not begin in 2012. The origin dates much before, even with responsible people who are today in the government.
For about 20 days We have a Very rude problem With our company Flag oilbut although they try to make all the people believe that drama C omitted with reestatization which was carried out and approved by the National Congress of 2012, it was actually for one of the two crazynesses of the chainsier that we have today in the government and has been generating traumas to our society From there for 2001 that made his incursion as Vice Minister of Economy of Domingo F. Cavallo When he made – a festival of Bonds and letters of the national state with private bonds and multilateral organizations such as the IMF and the Paris- the celebrities Megacanje and armor (passing from U $ S166 million at 235 million the country’s foreign currency debt) and even removes from 12% to retirees/pensioners and 13% to state employees, because the recession was so strong with monthly deflation data that they did not collect what was necessary for the National State to deal with its commitments in national currency nor did it have the dollars for payments to international bonds They were responsible for wallpaper worldwide.
During the month of November 2001, the quarterly IMF for the loans that the country owned at that time. What ended up happening? As always the IMF when he does not approve it, he said nothing and only limited himself to shut his mouth without issuing the review of the review and therefore not sending the US $ 1,500 million which corresponded post approval of the review, with this the temporary credit was without returning to the Paris Club of U $ S2.1 billion that the multilateral credit agency was going to be returned as long as the payment was released.
Result of all this was the default of our homeland and being isolated from the world, just buying in cash/counted or as we say on the street “Against truck butt.” The consequence of this same corollary was that the Argentine government until 2005 could even gather many reserves that it did not have, and under the command of the Néstor Kirchner Generate the beginning of a restructuring that ended in 2010 with a total of 93% of the restructured bonds with a 53% capital remove.
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The following year (2006) and given the need to withdraw from the management of the country’s economic policy U $ S9.6 billion of the BCRA reserves and pays the total debt with the IMF that was the borrowing top of the country allowed by the statute of the credit agency, being from 2006 to 2010 the greatest growth years of GDP. Simultaneously and after the restructuring of bonds were close to $ 15 mm nominals that vulture funds ended up buying for values close to the 0.00001% OF U $ S150,000 And there in 2012 (the same year of YPF reestatization) a lawsuit against the country was incorporated.
Already in mid -2024 the judgment of Judge Loretta Presska, in charge of the Malplerd Court was communicated Thomas Griesaagainst our country for an estimated amount to that moment of U $ S16 mm Therefore, our country decided to appeal directly without filing a bonding insurance policy for that amount that allowed the case only to pay the posterior differential. That is, for not paying insurance that could be around the U $ S1.6 mm. 15 days ago the camera sentence came out for a total of 18 mm must be paid with it a maximum of 2mm of the surplus. But it is always much easier to try to establish a story against the major opposition force talking about the guilt of today governor for re -statizing the oil company when this problem was generated by the minister to which the Nafta of the chainsier was finished on the last 8/7.
As a fact, we also have to reiterate that in that same 2001 the same current official took the debt of 2.1 billion to Paris Club and was included in the Default of 2001. In 2008 the then Economy Minister Martín Losteau He went to renegotiate her payment that was at that time in U $ 8 mm and negotiation was aborted after his resignation. Already in 2013 with Axel Kicillof As Minister he renegotiated the debt established at 9.6 billion in consecutive installments leaving 1 fee to be paid in May 2016 by U $ 600 thousandto which the trident established between Mauricio Macri-Luis Caputo and Sturzenegger resolved not to pay that share.
Already at the end of 2022/early 2023 a negotiation of that last unpaid fee is established at that time U $ 2.6 mm to pay in comfortable installments from 2026 onwards.
Things should be said as they are really and not as they want to cover their own colossi, endorsing problems with others. That is, he is a good person to take care of his own mistakes/horrors. Although having ended 2 years ago the cause Megacanje and armor It could be reopened as a result of there is a new fact as is the request for YPF’s actions to carry out the collection of the 2024 judgment, establishing responsibilities and dictating the sentence that is according to our laws.
Source: Ambito
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