Argentine President Cristina Fernandez has announced that the government will assume control of a Spanish oil company operating in Argentina. The action calls for the state to take a controlling interest in YPF as a means to funnel much needed money back into Argentina’s troubled economy. Nonresident Senior Fellow Eduardo Levy-Yeyati suggests it might be the right move done the wrong way.
Russia
Why do the US and its allies want to seize Russian reserves to aid Ukraine?
Commentary
Privatization and Argentina’s Economic Crisis
April 30, 2012