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Wednesday, April 18, 2012

US: YPF plans have 'negative development against foreign investors'

Mark Toner.
Mark Toner.
Mark Toner.

The US government finally broke silence regarding the YPF controversy and expressed “concern’ over the expropriation plans. A State Department spokesman said the plans “could have an adverse effect on 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 a daily press conference at the Department of State.

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