YPF settlement could revive investment in Argentina

摘要

Buenos Aires hopes that a compensation offer to Spanish firm Repsol to accoun for its expropriation of a controlling stake in domestic producer YPF last year wil revive upstream investment in Argentina and reverse a long decline in production But investors remain wary of the govern-ment’s policy record. Argentina’s offer of $5bn in US dol-lar-denominated treasury bonds could close a stormy chapter in Argentinian-Spanish relations, following the YPF expropriation. Repsol launched a barrage of international legal actions, not only against Argentina but also any foreign firm that sought to partner with YPF, in a bid to secure compensation. The firm is now expected to withdraw these actions.