Amidst the hurricane of accusations against President Javier Milei for the scandal of the scam with the virtual currency $LIBRA , Agenda Malvinas accessed information on the debt of Industrias Metalúrgicas Pescarmona SA (IMPSA), the first company privatized during his government, which has a debt of close to 576 million dollars.
As we reported in a timely manner, ARC Energy - a company linked to Donald Trump - made a capitalization offer of 27 million dollars, of which it had already invested 7 million, subject to an integration schedule according to the company's needs with a sequence of disbursements until the first half of 2026, in addition to the negotiation of a debt restructuring of almost 576 million dollars that IMPSA has with Banco Nación, BICE, IDB, Grupo Moneda, Banco de la Provincia de Buenos Aires, Banco Hipotecario, Export Development Canada, Corporación Andina de Fomento, the Brazilian bank Bradesco and holders of Negotiable Bonds.
One of the key points of the negotiation was the payment structure of the debt. ARC Energy proposed a capitalization and restructuring scheme with unfair conditions, as we anticipated in Agenda Malvinas.
As of December 2024, according to information from the Central Bank of the Argentine Republic (BCRA), IMPSA owed Banco Nación $54,974,660,000 (at the official exchange rate, about 51 million dollars, almost double what ARC Energy will pay to keep IMPSA ), with the entity rating it as uncollectible.
The second largest creditor on the BCRA list is the Banco de Inversión y Comercio Exterior SA (BICE) , to which IMPSA owed $8,158,250,000 (approximately 7.5 million dollars) as of last December, also in bad debt.
Another of the major creditors is Banco Hipotecario SA , to which IMPSA owed $1,059,469,000 (close to 1 million dollars) as of last December, and which is uncollectible.
The list of creditors is followed by Banco de La Pampa ($228,154,000); Industrial and Commercial Bank of China (ICBC) SAU ($17,164,000); American Express Argentina SA ($1,314,000) and Banco Macro SA ($101,000). Except for these last two cases, in which the debts are classified as having a high risk of insolvency, the rest are classified as uncollectible.
If it were not for the profound vocation for surrender and its industrializing policy that characterizes Milei 's government, no one could explain why the Argentine State divested itself of a company that is very well-known and whose production has a very high added value.
They want to make the Argentine Republic an Estancia again.
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