U.S. believes that Argentina’s decision creates a very negative investment climate
The U.S. government today was “very concerned” about Argentina’s decision to expropriate the oil company YPF, which “creates a very negative investment climate” and urged the country to “normalize relations with the international financial community.”
The State Department spokesman, Mark Toner said in his press conference that the expropriation of 51% stake in YPF oil company 57.4% owned by Repsol, affects “the entire international community” not only Spain.
“In the sense that it creates a very negative investment climate in the country, yes, the hurt,” said Toner, asked whether he agrees with the Spanish Foreign Minister, Jose Manuel Garcia-Margallo, on the potential global implications Argentina’s decision.
United States has analyzed the announcement of Buenos Aires and sees “more and more as a negative event,” said the spokesman, who on Tuesday asked for time to assess the implications of the decision.
“Such actions can ultimately have a negative impact on Argentina’s economy and could dampen the investment climate in Argentina,” said Toner.
“We urge Argentina to normalize relations with the financial community and international investment,” he added.
The spokesman said the United States “has raised numerous times and the highest levels of the Government of Argentina” concerns “about the impact such actions may have on the investment climate.”
The Spanish Foreign Ministry had considered so far lukewarm response from Washington to the case, and Garcia-Margallo acknowledged Tuesday that the reaction of the Secretary of State Hillary Clinton had not been “all enthusiastic” than he expected.
Hours after the announcement of the expropriation, Clinton sidestepped comment and only said from Brazil that the Argentine government’s decision would be “extensively discussed” and that America wanted to see “various energy markets.”
Category: Investing
