YPF CEO Miguel Galuccio (right) and Chevron president for Latin American and Africa Ali Moshiri explore opportunities in Vaca Muerta (photo: dpa)

Financial deals could signal Argentina’s comeback

Argentina has been excluded from international financial markets since defaulting on bonds in 2001. But change is on the way. A recent energy deal will allow exploitation of the vast shale oil reserves in the Vaca Muerta basin. And a potential settlement with ‘holdout’ bondholders would allow the current government to borrow whatever it needs to maintain its social programmes and control inflation.

<em>Argentina recently reached a settlement with Repsol, the Spanish energy company, to pay US$5 billion for most of its share in the national petroleum company, YPF. This will allow Buenos Aires to proceed with exploitation ...

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Dr. Joseph S. Tulchin
It is useful to remember at this point that the hedge funds which hold the majority of the old bonds have expressed a willingness to negotiate a settlement with the Argentine government
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