Africa Asia Europe North America South America Oceania
You are here: Home > South America > Argentina


Yearbook 2012

Argentina. In mid-April, the oil company YPF (Yacimientos Petroliferos Fiscales), which is owned by the Spanish Repsol, was nationalized. Rumors that a total stateization of YPF stood at the door had been in decline since January and caused the value of YPF's shares to oscillate sharply on the exchanges in both Buenos Aires and New York. The nationalization was preceded by the withdrawal of six of YPF's oil concessions in March in, among other things. the oil-rich provinces of Chubut and Santa Cruz, which together account for half of the country's oil production. According to countryaah, the measure created a diplomatic crisis with Spain, which threatened to complicate negotiations on EU-Argentina trade agreements, and caused the strongest international condemnations of Argentina in ten years.

2012 Argentina

Several major strikes among civil servants broke out during the year; in March among the port workers in the large wheat export port of Rosario and in May among the employees of the Buenos Aires metro. Towards the end of the year, popular pressure against the government and President Cristina Kirchner increased significantly, and protests grew into large-scale demonstrations. In September, 200,000 people gathered at Plaza de Mayo in front of the presidential palace Casa Rosada in Buenos Aires, and tens of thousands of demonstrators also demonstrated in the provincial capitals of La Plata, Salta, Córdoba, San Juan, Mendoza and Tucumán. On November 8, new mass demonstrations were held - i.a. the largest in Buenos Aires since 1983 - and on November 20, the trade union organization CGT organized a 24-hour general strike. President Kirchner dismissed the demonstrations as a limited middle class phenomenon.

Other Countries in South America

Oxford Countries Copyright 2012 - 2020 All Rights Reserved