🧓 Retirement without retirement: 17% of older adults in Argentina continue to work, and the figure is growing

The loss of the purchasing power of pension funds and the need to cover basic expenses push thousands of retirees to remain active. Experts warn about the physical, emotional and social impact of this growing trend.

Buenos Aires — In Argentina, retiring is no longer equivalent to retiring from the labor market. An increasingly widespread phenomenon reveals that approximately 17% of older adults continue to work despite being of retirement age. The figure, which is constantly increasing, reflects the economic tensions that the country is going through and highlights the limitations of the pension system.

According to official data and surveys by specialized organizations, about 1.2 million people over 65 years of age remain economically active, either in formal jobs, informal jobs or their own ventures. This reality contrasts with the traditional image of the retiree who enjoys his rest after decades of contributions.

💼 More obligation than choice

"In most cases, it is not a choice linked to the desire to stay active or socialize, but an imperative economic need," explains sociologist María Elena Rodríguez, a specialist in the elderly. "Retirement benefits have lost much of their purchasing power, and many older adults are forced to continue working to cover essential expenses such as medicines, food and services."

The situation is especially critical for those who receive the minimum pension, which represents only a fraction of the minimum living and mobile wage. With health expenses that increase with age and constantly rising rates, the pension is insufficient to sustain a dignified life.

🧰 Sectors and work modalities

The older adults who continue to work are mainly concentrated in the service sector, commerce and independent activities. Many work as caregivers, shop employees, cleaning staff, taxi drivers or in various trades. There are also professionals who continue to practice autonomously or provide advice in their areas of specialization.

Roberto Fernández, 68, is one of them. Retired three years ago as an administrative employee, today he works as an application driver. "What I receive from retirement is not even enough for medicines and basic expenses," she says. "I work six hours a day, Monday through Friday. It's not what I dreamed of for this stage of my life, but it's what I have to do."

⚠️ Health and quality of life at risk

Gerontology specialists warn about the physical and emotional consequences that this situation generates. "The body no longer has the same resistance, and many jobs involve physical effort or long days on their feet," says Dr. Javier Martínez, a geriatrician at the Italian Hospital. "We frequently see symptoms of exhaustion, stress and aggravation of pre-existing pathologies."

In addition, the need to work limits access to recreational activities, regular medical check-ups and the necessary rest time. "A vicious circle is generated: they work to pay for medicines, but the work itself deteriorates their health," Martínez adds.

🌎 A regional trend

The phenomenon is not exclusive to Argentina. In several Latin American countries, population aging combined with insufficient pension systems is generating similar situations. However, Argentina has its own particularities, such as persistent inflation and successive economic crises that eroded the real value of retirement benefits.

According to the Economic Commission for Latin America and the Caribbean (ECLAC), poverty among older adults is on the rise in the region, and the need to supplement pension income is one of the main causes of permanence in the workforce at an advanced age.

📣 Claims and proposals

Retirees' organizations have been demanding for years improvements in pension benefits and retirement mobility that recovers lost purchasing power. "We are not asking for privileges, we are asking for what we are entitled to after 30 or 40 years of contributions," says Graciela López, a leader of a group of retirees from the Buenos Aires suburbs.

From the academic field and social organizations, alternatives are proposed: updating of salaries above inflation, protected employment programs for the elderly, subsidies for medicines and expansion of health coverage.

📊 An expanding demographic challenge

With a progressively aging population – it is estimated that by 2050 more than 20% of Argentines will be over 65 years old – the sustainability of the pension system and the quality of life of older adults are emerging as one of the main social challenges of the coming decades.

"It is not just an economic problem or isolated public policies," concludes Rodríguez. "It is a question of the model of society: what place do we want our older adults to occupy and how do we guarantee that they can live with dignity after a life of work."

Meanwhile, thousands of Argentine retirees continue to get up every morning, not to enjoy their retirement, but to earn the livelihood that their retirement no longer guarantees.

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World Bank accelerates US$4 billion disbursements for Argentina: international support for government reforms

In a gesture that reinforces international support for the Argentine government's economic policy, the World Bank announced that it will accelerate the disbursement of US$4 billion as part of a previously agreed financing package of US$12 billion. The measure was celebrated by the Minister of Economy, Luis Caputo, who described it as a sign of "strong confidence in the government's efforts to modernize the economy, attract private investment and generate employment."

📌 It is not a question of new funds, but of a streamlining of the calendar

According to the official statement of the multilateral organization, the decision does not imply new resources, but an acceleration in the approval process of operations already planned. This will allow the funds to arrive in a shorter timeframe, although still subject to approval by the World Bank's Board of Executive Directors.

Sources close to the negotiation indicated that the full package will be implemented in the next three years, but that the US$4,000 million could be available "in a few months". The government did not specify how the original disbursement times will be modified.

🛠️ Strategic sectors: mining, tourism, energy and SMEs

The World Bank explained that the funds will be allocated to four key areas for Argentine competitiveness:

• Mining and critical minerals, with a focus on exports and foreign exchange generation.
• Tourism, as an engine of employment and regional development.
• Access to energy, to improve networks and coverage.
• Financing SMEs, strengthening value chains and local employment.

In addition, part of the package is expected to include investments in critical infrastructure, education, tax modernization and job skills development.

🤝 Political context and international support

The announcement came hours after the bilateral meeting between President Javier Milei and his U.S. counterpart Donald Trump, within the framework of the UN General Assembly. Trump expressed his "full and total support" for Milei's re-election, strengthening the bilateral relationship.

A positive message was also added from U.S. Treasury Secretary Scott Bessent, who praised Argentina's economic strategy through a thread on the social network X.

💬 Official reactions

In his social media post, Caputo thanked World Bank President Ajay Banga and stressed that "all proposed operations are subject to the approval of the Executive Board." The minister stressed that the financial support "not only provides resources, but also confidence in the economic strategy we are carrying out."

🔍 What does this acceleration imply?

The measure represents an explicit endorsement of the structural reforms promoted by the government, in a context of high economic volatility and the need for foreign currency. Although the funds still have to go through bureaucratic processes, the World Bank's gesture is interpreted as a sign of alignment with the official agenda.

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Climate Action in Argentina's Provinces: A Provincial Approach to National Denialism

Faced with the position of the national government led by Javier Milei, which has minimized the importance of climate change and has reduced the Ministry of Environment to an Undersecretariat, the Argentine provinces have taken the initiative in climate action. In April 2025, the Argentine Green Alliance (AVA) was formed, a space for collaboration between various jurisdictions to coordinate sustainable public policies and face climate challenges at the federal level.

What is the Argentine Green Alliance?

The AVA is a network of Argentine provinces that seeks to strengthen subnational climate action. Each member province contributes its particular experience and context, allowing the exchange of good practices and the implementation of strategies adapted to its realities. Collaboration between provinces is essential to address the impacts of climate change, such as extreme weather events and the vulnerability of critical infrastructure.

Progress and Challenges in the Provinces

According to a report by the Foundation for the Defense of the Environment (FARN), 54% of Argentine provinces have established government areas dedicated specifically to climate change. However, progress in policy implementation varies: only eight provinces have local climate laws, and three have validated their provincial climate change response plans at the national level. In addition, international funding is limited due to the lack of national "sovereign guarantee".

Featured Provincial Initiatives

• Buenos Aires: responsible for 34% of national emissions, it is working on the development of a response plan and an energy transition plan.
• Santa Fe: Implements a plan with 35 climate change mitigation and adaptation measures.
• Córdoba: He created a provincial cabinet specialized in climate change and leads the organization of the Federal Climate Parliament.
• Neuquén: It focuses on climate policy related to the monitoring and mitigation of emissions from the hydrocarbon sector, especially in the Vaca Muerta region.

Course at COP30

In October 2025, representatives from six Argentine provinces – Córdoba, Entre Ríos, Jujuy, La Pampa, Misiones and Santa Fe – will meet in Paraná to strengthen their capacity to influence the international climate agenda. This meeting is part of the roadmap towards COP30, which will be held in Belém, Brazil, and aims to consolidate a federal climate governance model.

Conclusion

Climate action in Argentina has taken a turn towards the subnational level, with provinces leading key initiatives in the absence of federal leadership on the matter. Collaboration between provinces and active participation in international forums are essential to face the challenges of climate change and guarantee a sustainable future for the country.

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National Elections in Córdoba

On October 26, 2025, the people of Cordoba will renew nine seats of national deputies. These are national legislative elections that are held throughout the country.

What is specifically chosen in Cordoba:

• 9 National Deputies who will represent the province in the Chamber of Deputies of the Nation.

National Context

At the national level, these elections aim to renew half of the Chamber of Deputies and a third of the Senate. In total, 127 national deputies will be elected throughout the country and 24 national senators in 8 districts.

New: Single Paper Ballot

An important feature of these elections is that for the first time the Single Paper Ballot (BUP) will be implemented, a system with which voting will take place on October 26.

Candidates

There are 18 lists and 270 candidates who will compete  for the 9 seats of national deputies that correspond to Córdoba.

Important: These are national legislative elections only. No governor or provincial legislators are elected in Córdoba on this date. Elections for governor are only held in Corrientes and Santiago del Estero, according to the information available.

Main Candidates

Juan Schiaretti - United Provinces

Former governor Juan Schiaretti is the candidate of Provincias Unidas, the space made up of Martín Llaryora and four other governors. Schiaretti is a central figure of Cordoba's Peronism, who was governor of Córdoba in multiple periods and maintains a strong electoral flow in the province. According to polls, he leads the voting intention in the city of Córdoba with 33.3%.

Gonzalo Roca - La Libertad Avanza (LLA)

Gonzalo Roca is the candidate of La Libertad Avanza, being a businessman who was finally elected to head the libertarian list. The libertarians ruled out the candidacy of Gabriel Bornoroni, the current head of the bloc in the lower house, and added the Bullrichista Laura Rodríguez Machado to the list. Roca represents the proposal of the national government of Javier Milei in Córdoba.

Natalia De la Sota - Defendamos Córdoba

National Deputy Natalia de la Sota will be the main candidate of Defendamos Córdoba, a political front that the legislator presented alone. She is the daughter of the late former governor José Manuel de la Sota and current national deputy. Its irruption threatens the ruling party and it is positioned in third place with its own voter profile, different from that of its competitors

Other Candidates and Lists

The Federal Justice initially made 14 lists official and the participation of another 4 is being analyzed, totaling 18 parties and political alliances that will compete for the nine seats

Among the other political forces that presented lists are:

• Democratic Party of Córdoba with List A – Group 85
• Radical Civic Union (UCR criticized)
• PRO (which distanced itself from Mauricio Macri)
• Other minor forces and provincial parties

Panorama Electoral

Rodrigo de Loredo will not be on any ballot and will return to the plains, which marks a significant change in the radical panorama of Cordoba. The polls also reveal a 16% undecided that marks a strong electoral uncertainty, suggesting that the competition will be very close between the main candidates.

The election in Córdoba promises to be very competitive, with three strong figures representing different political spaces: Schiarettist Peronism, national libertarianism and the Peronism of the De la Sota.

Complete list of candidates by party for the elections of national deputies in Córdoba on October 26, 2025:

Important Facts

The Federal Justice officially confirmed 14 lists of candidates for national deputies for Córdoba and left another four pending authorization. In total, there are 18 lists that aspire to occupy the nine seats at stake.

It will be the first time that the Single Paper Ballot is used in a nationwide election, which requires that all the enabled lists appear in a single design, with the particularity that only the first two candidates of each space will carry.

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U.S. Announces Record Financial Support Package for Argentina ahead of crucial October elections

Bessent confirms negotiations for US$20,000 million swap line and massive support for Milei's government

The United States on Wednesday announced an unprecedented financial support package for Argentina, including a $20 billion swap line and the purchase of Argentine sovereign bonds, in a decision that reflects Washington's full support for President Javier Milei's economic project just weeks before the midterm legislative elections.

U.S. Treasury Secretary Scott Bessent confirmed through his account on the X platform that "the Treasury is currently in negotiations with Argentine officials for a $20 billion swap line with the Central Bank," adding that they are working "in close coordination with the Argentine government to prevent excessive volatility."

A comprehensive bailout to stabilize the Argentine economy

The announcement represents the largest commitment of U.S. bilateral financial support to Argentina in decades. In addition to the currency swap, Bessent explained that Washington is prepared to buy Argentine dollar-denominated bonds in both the secondary and primary markets, and will provide a significant reserve credit through the Exchange Stabilization Fund.

"The United States plans to extend a $20 billion swap line to Argentina and is ready to buy the country's foreign bonds, providing much-needed financial support to President Javier Milei as he tries to regain investor confidence and stop a run on the peso," Bloomberg reported.

This measure comes at a critical time for Milei's government, which faces legislative elections scheduled for October 26, 2025, where half of the Chamber of Deputies and a third of the Senate will be renewed. These will be the first midterm elections during Milei's presidency.

Trump's endorsement strengthens strategic alliance

The financial support has the direct endorsement of President Donald Trump, who met with Milei on the sidelines of the United Nations General Assembly in New York. During the meeting, Trump said that the United States will help Argentina, although he considered that a total financial rescue would not be necessary, according to diplomatic sources.

At the same time, the World Bank announced that it will accelerate 4,000 million dollars in public-private investments previously planned for Argentina, demonstrating the international consensus of support for the reform program of the libertarian government.

Markets respond with optimism

Argentine financial assets experienced their third consecutive day of increases after Bessent's announcements. Sovereign bonds, stocks and the Argentine peso posted significant gains, reflecting investors' optimism about the prospects of stabilizing markets.

The positive market response contrasts with the previous situation, where Argentine assets had experienced strong volatility due to uncertainties about the sustainability of the economic program and the proximity of the legislative elections.

Political context: between international support and electoral challenges

The announcement comes at a complex time for Milei from a political point of view. While a recent poll showed that about 39% of participants planned to vote for Milei's party, La Libertad Avanza, well ahead of the 28% who intended to vote for the main Peronist bloc, Union for the Homeland, the president suffered a significant electoral setback in September.

In the Buenos Aires elections, the candidate of Milei's La Libertad Avanza party, Diego Valenzuela, won 34 percent of the vote, far behind Gabriel Katopodis, the left-wing Peronist candidate who received 47.4 percent.

Analysis: A respite before the electoral test

For economic analysts, U.S. support represents a temporary relief but does not solve the underlying structural problems. Kimberley Sperrfechter, emerging markets economist at Capital Economics, noted that "U.S. Treasury Secretary Scott Bessent's renewed pledge to 'do whatever it takes' to support Argentina should give the government some breathing room ahead of the midterm elections in October. Most importantly, however, it does not solve the country's underlying problems, particularly the misaligned exchange rate."

Implications for global monetary policy

The U.S. commitment to Argentina also raises questions about the independence of the Federal Reserve and the political use of dollar swap lines. These mechanisms, traditionally used in global crises such as those of 2008 and 2020, are now being used as a foreign policy tool, leading to debates about the politicization of monetary policy.

Swap lines are conduits of dollar liquidity that the Fed opens in times of crisis to prevent the dollar-based global financial system from coming to a standstill, assuming its role as lender of last resort when the world needs scarce dollars.

Next steps and prospects

The legislative elections on October 26, 2025, will be crucial in determining whether Milei can maintain or expand his support base in Congress, which will be essential for the continuity of his economic reform program.

The success of the U.S. support package will depend not only on its technical implementation, but on the Argentine government's ability to translate this financial stabilization into tangible results that can be valued by the electorate at the ballot box.

With this unprecedented international backing, Milei now faces the challenge of turning financial support into political victories that consolidate his long-term economic transformation project.

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National Alert: Argentina Suffers More Than 2,200 Cyberattacks Weekly, Exceeding the Global Average

Argentine organizations face a critical cybersecurity landscape, with the education sector as the main target

Argentina is at the center of a digital storm. According to Check Point Research's most recent Global Threat Intelligence report, organizations in the country suffer an alarming average of 2,283 cyberattacks per week, a figure that significantly exceeds the global average of 1,994 attacks per week.

This statistic places the country in a vulnerable position within the global cybersecurity landscape, evidencing the growing sophistication and frequency of digital threats faced by Argentine companies, government institutions and educational organizations.

The Education Sector: Main Target of Cybercriminals

The data reveal a worrying pattern in the sectoral distribution of these attacks. The education sector emerges as the hardest hit, registering 4,178 weekly incidents, which represents an increase of 13% compared to previous periods. This trend makes educational institutions the preferred target for cybercriminals.

It is closely followed by the telecommunications sector, which experienced 2,992 weekly attacks with an alarming increase of 28%. In third place is the government sector with 2,634 attacks per week, showing a more moderate increase of 3%.

However, the most surprising data comes from the agricultural sector, which although it registers 1,667 weekly attacks, experienced the steepest jump with a year-on-year increase of 101%. This exponential growth suggests that cybercriminals are expanding their targets into sectors traditionally considered less vulnerable.

Anatomy of Argentine Vulnerabilities

The report identifies the main security breaches that attackers take advantage of in Argentine territory:

• Disclosure of information: 70% of cases
• Remote code execution: 65%
• Authentication bypass: 51%
• Denial of service: 34%

These percentages reveal that the majority of successful attacks are concentrated on the unauthorized obtaining of sensitive information and tampering with systems from remote locations, underscoring the urgent need to strengthen authentication and data protection protocols.

A worrying global context

The Argentine situation is part of an alarming global trend. During August 2025, organizations around the world faced an average of 1,994 cyberattacks per week, representing an increase of 10% compared to the same month last year. Although this figure showed a slight decrease of 1% compared to July, it confirms that the cyber threat landscape maintains a sustained upward trend.

Background to a Crisis Foretold

The current numbers are not an isolated phenomenon. Argentina has shown consistent signs of cyber vulnerability in recent years. In the first quarter of 2024, the country registered more than 262 million attempted cyberattacks according to Fortinet reports, while in 2023 it faced 2,000 million attempted attacks, a figure that, although it represented an 80% reduction compared to 2022, still shows the magnitude of the problem.

Implications and Call to Action

The current situation demands a comprehensive and coordinated response. The concentration of attacks in critical sectors such as education and telecommunications not only compromises the country's digital infrastructure, but also puts sensitive information of millions of citizens at risk.

The exponential increase in the agricultural sector suggests an evolution in the strategies of cybercriminals, who are diversifying their targets into sectors that have traditionally invested less in cybersecurity.

The government's response includes the recent approval of the Second National Cybersecurity Strategy in February 2025, an important step but one that requires urgent and effective implementation to address this growing threat.

The data confirms that Argentina faces a cybersecurity challenge that requires immediate attention, sustained investment in protection technologies, and a robust national strategy to protect the country's critical digital infrastructure.

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Heavy defeat of La Libertad Avanza in Buenos Aires: "political disaster" that shakes Milei's economic plan

On an election day marked by high citizen participation and a climate of political tension, La Libertad Avanza suffered a resounding defeat in the province of Buenos Aires, generating a real "political disaster" that puts the economic course of President Javier Milei in check.

The big winner of the day was Fuerza Patria, which achieved a majority in the Buenos Aires Senate and consolidated itself as the first minority in the Chamber of Deputies, displacing the libertarian ruling party and reconfiguring the provincial legislative map.

Governor Axel Kicillof, the main reference of the triumphant space, celebrated the result with a fiery speech from La Plata. "This people does not allow itself to be deceived by empty promises or by adjustments that punish those who have less. Today Buenos Aires spoke clearly: we want a productive, inclusive and sovereign model," he said, in a clear allusion to the policies of the national government.

The electoral setback represents a hard blow for Milei, who had bet heavily on consolidating his base in the country's most populous province. Political analysts warn that the loss of territorial power could make it difficult to implement key reforms, especially in fiscal and privatization matters.

From the presidential entourage, there have not yet been official statements, although close sources acknowledge that "the result forces a recalibration of the strategy."

The day showed the growing wear and tear of the ruling party and the strengthening of the opposition forces, in a context of persistent inflation, social conflict and questioning of the libertarian economic model.

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Scandal over alleged bribes in disability: the crisis that shakes Milei's government

A serious corruption scandal shakes the government of Javier Milei after the leak of audios that reveal alleged millionaire bribes in the National Agency for Disability (ANDIS), which triggered the intervention of the agency and multiple judicial investigations.

The audios that uncovered the scandal

The crisis was unleashed a week ago when recordings were leaked in which Diego Spagnuolo, then director of ANDIS, denounced the payment of bribes by high-ranking officials in the purchase of medicines. In the audios, Spagnuolo claimed that bribes of five hundred thousand dollars per month related to pharmaceutical contracts were collected.

The revelation generated an immediate political crisis, forcing the government to take drastic measures to contain the shockwave of the scandal that already transcends Argentina's borders.

Removal and Government Actions

Given the seriousness of the accusations, President Javier Milei immediately requested the removal of Diego Spagnuolo from his position as Director of ANDIS. The decision was made just days after the compromising audios were released.

The government also announced the intervention of the National Agency for Disability and ordered a summary investigation of all the agency's contracts. However, the authorities did not comment on the veracity of the complaints made by the removed official himself.

Links with key government figures

The scandal splashes figures in the circle close to power, including references to a company linked to Martín Menem, president of the Chamber of Deputies. The audios also mention alleged connections that could involve Karina Milei, the president's sister and an influential figure in the government.

Extent of research

The plot of alleged bribes has extended beyond ANDIS. Recently, it was demanded to investigate Luis Petri, Minister of Defense, for a contract of 50,000 million pesos between the Institute of Social Work of the Armed Forces and the Suizo Argentina laboratory, a company pointed out in the bribery scandal.

Opposition reactions

The political opposition was quick to react, demanding explanations and transparency. Senator Leandro Santoro was one of the first to speak out, noting that "audios circulate where it is stated that the Argentine administration received bribes of five hundred thousand dollars each month" precisely when essential issues for people with disabilities are discussed.

International impact

The scandal has transcended national borders, being described by international media as a "Mani pulite a la Argentina" in reference to the famous Italian anti-corruption operation of the 90s. The world's leading media have set their eyes on this crisis that directly affects one of the most vulnerable sectors of society.

Problematic history

This scandal adds to previous controversies in the government's disability policy. In January 2025, ANDIS had generated repudiation by issuing a resolution that classified people with intellectual disabilities with discriminatory terms such as "idiot", "imbecile" or "profoundly mentally weak", which had already generated social and political unrest.

Current state of the investigation

A judicial case is currently underway that seeks to clarify the alleged bribery network. The investigation focuses on the contracts for the purchase of medicines and the possible existence of a circuit of illegal payments that would have operated for months in the agency in charge of caring for people with disabilities.

The case continues to unfold as the government faces one of its most serious crises since the beginning of Milei's administration, calling into question the transparency in the management of resources destined for one of the most sensitive sectors of Argentine social policy.

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🧸 Drop in sales for Children's Day 2025 in Argentina.

This year, Children's Day once again highlighted the difficulties of consumption in Argentina. Despite the fact that more than 87% of businesses applied promotions and financing plans, SME retail sales fell by 0.3% compared to the previous year, according to data from the Argentine Confederation of Medium-sized Enterprises (CAME).

📉 Main findings

• The average ticket was $33,736, just above that of 2024, but with a real drop of 21.1% when discounting inflation.
• In the toy sector, the Argentine Chamber of the Toy Industry (CAIJ) reported a 5.2% drop  in sales.
• Purchases of cheaper gifts, such as board games, books and stuffed animals, predominated, rather than electronics or seasonal products.

🧾 Factors that explain the fall

• Adverse weather conditions and the holiday on Friday the 15th affected the flow of customers.
• High interest rates reduced the use of bank promotions, which accounted for only 70% of operations (historically they were 90%).
• Many businesses used the date as an opportunity to liquidate old stock, rather than as a real driver of consumption.

📍 Regional impact

In cities such as Comodoro Rivadavia, the drop was more pronounced: up to 12% compared to 2023. Local merchants warned about business closures and difficulties in sustaining the payment chain.

The date, historically key for trade, failed to reverse the trend of stagnation. Consumption continues to be conditioned by the loss of purchasing power and the caution of families.

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Argentina achieves favorable ruling in YPF case: order to deliver 51% of shares suspended

The New York Court of Appeals granted a stay that allows the country to appeal without transferring its assets in the state oil company

Argentina obtained a favorable decision from the U.S. Court of Appeals for the Second Circuit in the YPF case, which suspends the court order that forced the country to hand over 51% of the shares of the state oil company as part of the payment for the nationalization carried out in 2012.

The U.S. court "accepted Argentina's request, so the June 30, 2025 order is suspended" while the appeal filed by the Argentine government is resolved. This decision represents a significant relief for national authorities, who had warned about the practical impossibility of complying with an adverse ruling.

Context of the dispute

The case originates in the nationalization of YPF carried out on April 16, 2012 during the government of Cristina Fernández de Kirchner, when the Argentine State expropriated 51% of the shares that belonged to the Spanish Repsol. In September 2023, Judge Loretta Preska ordered the government to pay US$ 16.1 billion for the nationalization of YPF: US$ 14.4 billion corresponding to the Petersen Group and US$ 1.7 billion to Eton Park.

Given Argentina's inability to meet the monetary payment, the magistrate had ordered last June that the country transfer 51% of its shares in YPF to a global custody account at the Bank of New York Mellon as a way to guarantee compliance with the ruling.

Position of the Argentine government

The chief of staff, Guillermo Francos, had warned days ago that "An adverse ruling is unfulfillable," marking the government's firm position regarding the impossibility of complying with an order that would imply the loss of control of the country's main energy company.

The Ministry of Economy immediately celebrated the decision of the appeals court, which also accepted that the United States government participate as "amicus curiae" supporting the Argentine position in the judicial process.

Implications of the ruling

The suspension granted by the Court of Appeals allows "The government's shares in the oil company to remain in the Caja de Valores while the Court resolves the appeal," according to analyst Sebastián Maril of Latam Advisors.

This decision prevents, for the time being, Argentina from losing control of YPF, a strategic company for the country's energy sovereignty and key in the development of unconventional resources in Vaca Muerta.

The judicial process will continue in the appeal instances, where Argentina will seek to reverse the millionaire sentence imposed in the first instance. Meanwhile, the country maintains full control of the state oil company, whose shares will remain in Argentine custody during the appeal process.

The decision marks an important respite for the Argentine government in one of the most complex international disputes facing the country, with direct implications for one of its most valuable energy assets.

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