Thursday, April 19th 2012 - 05:10 UTC

US “very concerned” about effects of YPF nationalization; Argentina’s risk soars to 1.044

The US government finally broke silence regarding the YPF controversy and expressed “deep concern’ over the expropriation plans. A State Department spokesman said on Wednesday the plans “could have an adverse effect on the Argentine economy.”

Mark Toner insisted on the negative effects for the Argentine economy

“We’re very concerned about the Government of Argentina’s intent to nationalize Repsol YPF,” State Department spokesman Mark Toner said.

The US official indicated that they view it as “a negative development against foreign investors” that could “ultimately have an adverse effect on the Argentine economy and could further dampen the investment climate in Argentina.”

“We would just urge Argentina to normalize its relationship with the international financial and investment community,” he said during the daily press conference at the Department of State.

Tamer revealed that the US has raised this issue on numerous occasions and at the highest levels of the Government of Argentina, since our concerns about these kinds of actions is that they can affect the investment climate in Argentina”.

Meantime Argentina's credit risk increased sharply after the Senate signalled that it would approve the YPF nationalization.

Argentina’s component of the JP Morgan Emerging Markets Bond Index Plus (EMBI+) widened on Wednesday by 51 basis points to 1,044 basis points, a huge move on a day when underlying benchmark US Treasuries were little changed.

The increase shows that investors see Argentina as being roughly three times as risky as other emerging markets.
 

Published in: Energy & Oil, Investments, Politics, Argentina, United States.
Tags: Argentina, Mark Toner, Repsol YPF, S.A., United States.

29 comments Feed

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1 GreekYoghurt (#) Apr 19th, 2012 - 08:53 am Report abuse
... Argentina is an emerging market? A fading economy would be closer to the truth.
2 British_Kirchnerist (#) Apr 19th, 2012 - 11:08 am Report abuse
Not surprised the US are against this, but what can they do? What do th right wingers on here suggest, try to organise another coup?!
3 GreekYoghurt (#) Apr 19th, 2012 - 11:23 am Report abuse
@2 Wannabe-argtard, I'm apolitical, and I think the Anglosphere should just give the Argtards what they want. Lock them in a box of their own design, and throw away the key... then in 20 years open the box again and see what's left.

Then they can dance the merry dance with the Chinese for 20 years if they feel so fit.
4 PirateLove (#) Apr 19th, 2012 - 11:45 am Report abuse
@2 Do nothing, Argenvina is doing enough self-damage quite adequately, a joy to behold!
5 GreekYoghurt (#) Apr 19th, 2012 - 11:47 am Report abuse
@4 Argtardia is currently doing that black hole thing at the end of the movie where it's dragging everything into it, and the people nearby [bolivia] have to use some special untested technology to release themselves from the gravitational well of fail.
6 toooldtodieyoung (#) Apr 19th, 2012 - 11:57 am Report abuse
.....So all we have to do is prepare for a humanitarian crisis when the Argentinians run out of everything and millions start to starve to death.

Yeah, KFC is the new Pol Pot!! “Killing Fields” anyone?
7 GreekYoghurt (#) Apr 19th, 2012 - 12:01 pm Report abuse
@6 They'll be okay for a few years on their tree-bark soup, then they'll probably perish. It'll give the almost-genocided Natives a chance to repopulate. They might make a nice place in 30 years+.
8 ChrisR (#) Apr 19th, 2012 - 12:18 pm Report abuse
Does anyone believe they are likely to get any investment other than China and, maybe, Russia?
9 GreekYoghurt (#) Apr 19th, 2012 - 12:25 pm Report abuse
@8 Russia has enough oil to worry about in it's own country. China is the one currently trying to squeeze oil out of everything, so I'd say they're going to end up in bed with the PRC. Sadly the Chinese like to use their own resources to create the infrastructure and investments and remember to bill suitable amounts for he benefits of using chinese resources.

They're furked either way.
10 xbarilox (#) Apr 19th, 2012 - 02:07 pm Report abuse
It is amazing that so many countries around the world were making money with our natural resources.

@ 9 I love to see your desperation and your incapacity, amusing.

@ 8 Don't worry, be happy :)
11 GreekYoghurt (#) Apr 19th, 2012 - 02:13 pm Report abuse
@10 I'm neither desperate nor incapable. You'd be doing something Freud would call projection there. You're basically completely immasculated and your country is fooked and instead of bearing the reality of the mess you're in, you're projecting that onto other people.

Watching Argtardia implode is hilarious, stop the projection, get on with enjoying your shoe-soup.
12 xbarilox (#) Apr 19th, 2012 - 02:23 pm Report abuse
@ 11 Yes you are, and crying with anger. Your days are gloomy now, and you can do nothing to change it hahaha
13 GreekYoghurt (#) Apr 19th, 2012 - 02:26 pm Report abuse
@12 Jedi mind tricks only work on the weak minded, and not over the internet. Your power of suggestion is limited at best.
14 xbarilox (#) Apr 19th, 2012 - 02:35 pm Report abuse
@ 13 Now will seize YPF Gas SA too. Keep barking you bloody dog hahaha
15 Brit Bob (#) Apr 19th, 2012 - 02:41 pm Report abuse
Says it all, Argentina is seen as THREE TIMES MORE RISKY than other emerging markets.
16 reality check (#) Apr 19th, 2012 - 03:24 pm Report abuse
When it all goes tits up, which it will do, in 5 or 10 years time. Who are they going to blame then? the Junta. Seems to be their national pass time, blaming anyone else, except themselfs.
17 Max (#) Apr 19th, 2012 - 05:57 pm Report abuse
Verbosity.....Verbosity....Verbosity.....Verbosity.....Verbosity.....
18 reality check (#) Apr 19th, 2012 - 06:38 pm Report abuse
@ 11 GY. Infamy, Infamy, theyve all got it in fa me. With thanks to Carry on Cleo.
19 briton (#) Apr 19th, 2012 - 08:04 pm Report abuse
2 British_Kirchnerist (#) Apr
Not surprised the US are against this, but what can they do

[Nobody hates you Argentina]

They are trying to help and give advice]
But your leaders are out of control.

Cuba may invest with ceeegarrrs
.
20 British_Kirchnerist (#) Apr 20th, 2012 - 07:29 am Report abuse
#6 “KFC is the new Pol Pot!!”

Maybe the most absurd thing ever said on mercopress. Check out the resemblence here:
www.youtube.com/watch?v=Zhf5iInIWEs&feature=fvsr
www.youtube.com/watch?v=cIJoop5pPuA&feature=fvsr
www.youtube.com/watch?v=Wdjj5dzcFfw&feature=fvsr
21 briton (#) Apr 20th, 2012 - 12:41 pm Report abuse
Maybe the most absurd thing ever said on mercopress

na
malvinas was the worst
22 ChrisR (#) Apr 20th, 2012 - 03:24 pm Report abuse
20 Scottie_Kirchnerist

Being compared to Pol Pot has nothing to do with her looks but the stupidity of her actions that will eventually lead to the implosion of the country.

But she won't care. She, FatBoy and SlimGirl with be offski to wherever with the money they have stolen during office.

You get more deluded by every post. Bet you wouldn't go and live in Argentina though, would you? No? So you are not completely barmy then?
23 briton (#) Apr 20th, 2012 - 08:28 pm Report abuse
he a scot, he not silly . mmm

CFK is rich, she will retire in paradise,
will her people ?? we doubt it .
24 British_Kirchnerist (#) Apr 21st, 2012 - 09:57 am Report abuse
#22 But its not just about her looks. While a leader like Pol Pot might have an absurd overblown personality cult (though Pol Pot himself actually didn't, he was so paranoid he kept his identity secret from the population even after he took power!), the kind of fan made, laid back videos I showed really don't fit with the “dictator” image do they. And then, as well as the beauty, theres her fresh andvibrant attitude that shines through them; as one of the videos was called, she's “the most rocker president” =)
25 ChrisR (#) Apr 21st, 2012 - 02:48 pm Report abuse
24 Scottie_Kirchnerist
“ Bet you wouldn't go and live in Argentina though, would you? No? So you are not completely barmy then?”

SO, am I correct?
26 British_Kirchnerist (#) Apr 21st, 2012 - 03:09 pm Report abuse
Too busy trying to improve Britain by stopping the ConDem government to take up that otherwise tempting offer!
27 briton (#) Apr 21st, 2012 - 05:28 pm Report abuse
the only way to help
is to suit up and post mr salmon to the north pole,
28 British_Kirchnerist (#) Apr 21st, 2012 - 06:12 pm Report abuse
Well I'll be metaphorically voting to do that at the referendum =)
29 briton (#) Apr 21st, 2012 - 08:34 pm Report abuse
good.

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