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Saturday, May 5, 2012

Privatization and Argentina's Economic Crisis

Published on May 1, 2012 by BrookingsInstitution : Argentine President Cristina Fernandez has announced that the government will assume control of a Spanish oil company operating in Argentina. The action calls for the state to take a controlling interest in YPF as a means to funnel much needed money back into Argentina's troubled economy. Nonresident Senior Fellow Eduardo Levy-Yeyati suggests it might be the right move done the wrong way, saying the trigger for the government's move is largely due to its fiscal and external deficit, and both are growing, in part, because of the country's energy issues.