A threat of expropriation to curb the negative inflation data. Already the government tried one method twice so that the agenda and public opinion are not dominated by the high number of increases in the cost of living: demonize a privatization concessionairepossibly foreign.
The first inflation figures from Massa’s tenure as economy minister were released on 14 September. The former deputy had assumed office in the first days of August. During that month, inflation was 7% a month. However, on the day this information was disclosed, the government had prepared a criminal complaint against Abertis, the Autopistas del Sol dealer.
The Executive opposes the renegotiation that this company has made with the administration of Mauricio Macri. And although he had been investigating for some time, a press conference was held on September 14 between President Alberto Fernández and the Minister of Public Works, Gabriel Katopodis. The same day the INDEC data was released.
The method was repeated 10 days ago. Inflation in January was 6% and the government panicked. It was Tuesday February 14th. Over the previous weekend -and also the day before data release- Edesur had power outages to more than 185,000 homes. More than enough for the political wing of the Frente de Todos to come out and demand the expropriation of the company and removes it from the concession.
Wednesday 15, which could be a day dominated by inflation that doesn’t go down, ended up having the fate of the owners of Edesur as protagonists of the day. The mayors of the southern conurbano, furious with the distributor, have not lost any microphones to claim a penalty against Edesur. Massa met with the directors of the company. The day before, with the cost of living rising 6% a month, it looked like higher prices would dominate the agenda. I don’t pass.
The expropriation of Autopistas del Sol or Edesur is not in Massa’s plans (whose owner is the Italian Enel). The minister intends to show an “friendly” profile for investors. Furthermore, there is talk of a change in the revision of the objectives with the International Monetary Fund (IMF). Instead of being quarterly, as now, the review will be sought to be annual.
In the IMF, the most important voice is that of the representatives of the United States. but much Spain and Italy have decision-making power. Expropriating the assets in Argentina of a flag carrier in those countries – such as Abertis in Spain, or Enel in Italy – would not leave the maximum willingness to European administrators to accept changes in the country’s agreement with the IMF. Mass knows.
Four and a half months ago, the Government filed a lawsuit against Autopistas del Sol and Grupo Concesionario del Oeste, from Abertis. The national Executive maintains that the extension of these concessions – agreed in the previous management – presents irregularities. However, the Presidency is preparing to authorize increases in the tolls paid on the Pan-American and Acceso Oeste motorways, the two corridors managed by this group.
Abertis, the Spanish company that usually requests the reconstitution of the tolls it charges based on inflation and the conditions that appear in the concession contract.
Official sources have confirmed that there will be an increase in tolls, even if they have not established a deadline. “It will be close to 100% and will be in force from March”, explained an interlocutor who is in dialogue with both (State and private).
Four months ago, the government filed a lawsuit to cancel the Pan-American highway concession. In turn, he asked the Justice for “a precautionary measure for the National State to take over the management of the Northern Access”. The Executive has obtained authorization to designate a veedor. The lawsuit made no further relevant progress.
With Edesur, the fight has been going on for a long time. In the pandemic, the mayors have begun to ask for the concession to be interrupted. On Wednesday, February 15, one day after January’s 6% inflation reading, the government said it could expropriate the company.
Over the weekend, and also on Monday, Edesur stopped supplying more than 185,000 customers. The company says it did it by order of the electrical system, but the state denies it.
Massa urgently called Claudio Cunha and Juan Carlos Blanco, the two highest authorities of Edesur. There he told them that they would have to pay a $1,000 million fine and that customers who had suffered cuts would not pay their monthly bills.
A few days earlier, on Monday, the controller of the electricity regulator (Enre) -Walter Martello- had announced a large audit of Edesur. Massa informed the company that he would appoint a supervisor for this task. The curious thing is that there is already a status observer in the dispenser.
Source: Clarin
