Bolivian president Evo Morales clearly took distance from Argentina’s expropriation of YPF, the Argentine affiliate of Spain’s Repsol which was announced on Monday and caused a major rift between Argentina and Spain and the European Commission.
The European Commission called off a meeting with officials in Argentina after President Cristina Fernández revealed plans to expropriate 51% of YPF from its mother corporation Spain’s Repsol.
Mexican president Felipe Calderón and G-20 group head, said that Argentina’s plan to seize a majority stake in Repsol’s Argentine branch YPF is “very regrettable” and called on President Cristina Fernandez to reconsider and rectify the decision.
Argentine president Cristina Fernandez received late Monday the first international support for her announced takeover of YPF from the Spanish corporation Repsol: the Venezuelan government and President Hugo Chavez, revealed the Foreign Affairs ministry.
The Chilean government reacted with concern at the announcement by Argentina of a bill to expropriate 51% of the oil company YPF from Spain’s Repsol, since this will have a direct impact for Chile, said on Monday evening the Executive Secretary General Andres Chadwick.
The European Community strongly supported Spain and oil corporation Repsol saying that the expropriation by Argentina of YPF is “a very negative signal” for investors and could seriously damage the business climate of the country.
US nominee Jim Yong Kim has been chosen as the new president of the World Bank. The Korean-American health expert, president of Dartmouth College faced a strong challenge for the post, which has traditionally gone to an American, from Nigerian Finance Minister Ngozi Okonjo-Iweala.
An influential Chinese journal has reprinted comments from China's premier calling for tougher anti-corruption rules, as a political scandal deepens. Wen Jiabao said corruption was the greatest threat to the ruling party
Argentine President Cristina Fernández de Kirchner sent to Congress a draft bill to expropriate Spain’s Repsol’s holdings of YPF oil and gas company. The announcement was made on Monday at the Government House during a sudden meeting with officials, political leaders, unionists and businessmen.
Foreign Minister Héctor Timerman indicated that Argentina’s participation in the 6th Summit of the Americas “left a very positive balance,” and stressed on the importance of the bilateral meeting between President Cristina Fernández and US president Barack Obama.