ARGENTINA TO FULLY PRIVATIZE STATE OWNED YPF

Argentina's Congress has voted to fully privatize state petroleum company Yacimientos Petroliferos Fiscales (YPF), a move the government expects to net at least $8 billion. Despite some political opposition, the vote was 119-10 in favor, with one abstention and opposition party members refusing to participate in the vote. Argentina's President Carlos Menem had threatened to authorize YPF privatization by decree if there was no quorum for a vote.

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