2023-11-20 17:22:29
Milei explained that the first step will be to guarantee the recovery of the company’s results to ensure a higher value sale
Argentine President-elect Javier Milei on Monday reaffirmed plans to privatize state-owned oil and gas company YPF in an effort to fulfill his campaign promise to radically reduce the size of the state.
In an interview with Argentine radio Miter, Milei explained that the first step will be to guarantee the recovery of the company’s results to ensure a higher value sale. The libertarian also intends to hand over control of communication companies to the private sector, including Rádio Nacional and the Telám news agency.
After the statements, YPF’s American Depositary Receipts in New York jumped 39.36% on the New York Stock Exchange, shortly before 12 pm (Brasília time).
According to Milei, the new government will begin precisely with macroeconomic reforms, in particular the rebalancing of public accounts. The president-elect said he aims to resolve the issue of Leliqs, the bonds issued by the Central Bank that finance public debt.
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