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YPF Privatization Removed From Final Version of Milei Omnibus Bill

ARGENTINA
  • YPF Privatization Removed From Milei Omnibus Bill in Argentina (BBG)
  • Key bits from the Clarin article:
    • The Government sent the final version of the so-called Omnibus Law to Congress, with the changes that it had agreed with the opposition last week.
    • The Government agreed to incorporate a pension formula for automatic salary adjustment due to inflation, restrictions on money laundering requested by the Legislative Branch were incorporated and the fishing, hydrocarbon and biofuel regimes were reformulated. Meanwhile, regarding withholdings, the tax on regional economies was eliminated.
    • Regarding privatizations, YPF is eliminated from the list of 41 companies and it was established that the State must maintain control of three other companies and can only advance with a partial privatization: Nucleoeléctrica, Banco Nación and ARSAT. The opposition had asked that they be removed from the payroll entirely.
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