In an unrelated matter, it is amazing that Argentina has taken the course of expropriating YPF from Repsol. Given that it could have done a takeover via the equity market at fair market value (or excercise certain rights given the government still holds the "golden shares"). Expropriating assets leaves such a negative sentiment that I believe would turn investors away from Argentina. Probably this will benefit Brazil, Mexico and other Latin America countries.
I guess there must be a correlation between rising commodity prices and risk of expropriation. Argentina has been a net importer of oil and has been a huge strain on their fiscal numbers and YPF has been showing declining numbers in production despite political pressures to increase investments to increase production.
One must wonder if Argentina is going to default if it does not appropriate assets. I do not have the numbers at hand but to take such drastic measures, one can either be trying to assert/show their "leftist/reformist" ways or seriously cash-strapped.
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