Argentinian government is taking over Vicentin?

[Dougie]

This has been shared before, but worth posting again to understand the not so simple dynamic between AF and CFK:

He says it's very difficult to find one valuable element about CFK's second term, and rattles off a bunch of things he found deplorable about her administration.

- They destroyed the economy
- Various justice related matters
- Iran deal
- Nisman

In another video he said it was hypocritical to denounce the corruption of Menem, but not the corruption of Cristina. That the reason CFK wanted public office was so that she was protected from prosecution. He said that her view of reality was extremely distorted.

I don't think she would have second thoughts about throwing someone who talked about her like that to the curb.

 

[on the brink]

This has been shared before, but worth posting again to understand the not so simple dynamic between AF and CFK:

He says it's very difficult to find one valuable element about CFK's second term, and rattles off a bunch of things he found deplorable about her administration.

- They destroyed the economy
- Various justice related matters
- Iran deal
- Nisman

In another video he said it was hypocritical to denounce the corruption of Menem, but not the corruption of Cristina. That the reason CFK wanted public office was so that she was protected from prosecution. He said that her view of reality was extremely distorted.

I don't think she would have second thoughts about throwing someone who talked about her like that to the curb.

They deserve each other. In spades.

 

[antipodean]

This has been shared before, but worth posting again to understand the not so simple dynamic between AF and CFK:

He says it's very difficult to find one valuable element about CFK's second term, and rattles off a bunch of things he found deplorable about her administration.

- They destroyed the economy
- Various justice related matters
- Iran deal
- Nisman

In another video he said it was hypocritical to denounce the corruption of Menem, but not the corruption of Cristina. That the reason CFK wanted public office was so that she was protected from prosecution. He said that her view of reality was extremely distorted.

I don't think she would have second thoughts about throwing someone who talked about her like that to the curb.

Everyone has their price, I guess. Seems Albie’s was the job opportunity of a liftetime. Or maybe it was an offer he could not refuse. Watching this drama unfold is better than a telenovela, until you realize it’s real life... and affects real lives.

 

[Redpossum]

I

Anyone else think this was a secret double cross by Kristina to lower the confidence in Alberto? He may have been becoming too popular. If the deal went through then it was her plan, if backfired then it was Alberto's plan and he sucks. Either way she wins.

I've only lived in Argentina for about 2 years now so I don't fully understand as much as others but this seems like something that could be right out of her play book.

It's a standard tactic in Argentine politics to claim that there are hidden divisions in the other party. While Clarin is promoting wishful thinking about internal struggles between Cristina and Alberto in Frente Para Todos, Pagina12 is alleging that Larretta is feuding with Macri and Bullrich. None of it means anything.

 

[on the brink]

While Clarin is promoting wishful thinking about internal struggles between Cristina and Alberto in Frente Para Todos....

In my view, that's no struggle - she can run circles around him.

 

[Bajo_cero2]

Vicentin. La UIF pidió la inhibición de bienes de Mauricio Macri y de los dueños de la empresa

Vicentin. La UIF pidió la inhibición de bienes de Mauricio Macri y de los dueños de la empresa

www.lanacion.com.ar

The Prosecutor asked to freeze the assets of Vicentin and Macri.

 

[gracielle]

Everyone has their price, I guess. Seems Albie’s was the job opportunity of a liftetime. Or maybe it was an offer he could not refuse. Watching this drama unfold is better than a telenovela, until you realize it’s real life... and affects real lives.

And the ego listened to the song of the siren...

 

[gracielle]

.....Watching this drama unfold is better than a telenovela, until you realize it’s real life... and affects real lives.

Vicentin, la serie más entretenida

Vicentin, la serie más entretenida

www.lanacion.com.ar

13 June 2020
OPINION: Vicentin, the most entertaining series
.....The plot of Vicentin, the Vengeance, even in fast forward mode, is captivating. Unexpected, high-impact events and statements fly. The initiative is rejected by Lavagna, whom Alberto had been calling every half hour to offer him the leadership of the Economic and Social Council. Now we understand why he always said no. Guillermo Moreno also opposes the measure, which is more or less like the Pope's opposition to the masses. The Minister of Agriculture, Luis Basterra, forgot to notify him. In YPF, at whom they throw the cadaver, finds out five minutes before. The shareholders, on television. The interveners arrive at Vicentin, are not let in and take a selfie at the door. It is not fiction, I promise. It is the documentary segment of the series.
There is a town in Avellaneda santafesina, where the company's headquarters are, and a cacerolazo in the hundred Buenos Aires neighborhoods. Alberto is scared and, for the third time in a week, he swears on the Holy Gospels that he is a capitalist. CEOs of the business establishment- not everyone: only the brave - denounce. In Juntos para Todos they say: "Oh well, let's show opposition." The jurists prostrate themselves before the Constitution: the Government not only intervened Vicentin, but also the judge who is in charge of the bankruptcy proceedings.

Quick of reflexes, the President of Uruguay decrees the "fiscal vacations": an invitation for Argentines to settle there without paying taxes.
Among the thousands of CABA runners, one, in Palermo, wore a T-shirt that says: ¡Rajemos! Por las redes circula un spot de Nik en el que Alberto ha sido expropiado. Por Cristina.

I promised not to spoil how Vicentin, the Vengeance. ends. I lied. This ends badly.

 

[on the brink]

Vicentin, la serie más entretenida

Vicentin, la serie más entretenida

www.lanacion.com.ar

13 June 2020
OPINION:
Por las redes circula un spot de Nik en el que Alberto ha sido expropiado. Por Cristina. [/I]

Funniest line: "Alberto has been expropriated. By Cristina"

 

[gracielle]

Vicentin. La UIF pidió la inhibición de bienes de Mauricio Macri y de los dueños de la empresa

Vicentin. La UIF pidió la inhibición de bienes de Mauricio Macri y de los dueños de la empresa

www.lanacion.com.ar

The Prosecutor asked to freeze the assets of Vicentin and Macri.

¿Quién le dio plata a Vicentin?: informe de Cambiemos refuta que la responsabilidad haya sido de la gestión macrista

El documento elaborado por técnicos vinculados a Mauricio Macri detalla el nivel de fondos que la cerealera recibió de Cristina Kirchner

www.iprofesional.com

12 June 2020
Who gave Money to Vicentin?: Report by Cambiemos refutes that the responsibility was during the Macrist administration
....While Alberto Fernández resumes the idea of expropriating Vicentín and the complaints against former officials of the government of Mauricio Macri for alleged fraud maneuvers are generalized, Cambiemos counterattacks with a report in which they claim that the santafesina agro-exportporter received greater financial assistance from Cristina Kirchner.

They thus seek to refute one of the arguments, perhaps the principal, used by the President to argue that Vicentin's expropriation is based on the alleged help that the company received from Macri and Banco Nación presided over by Javier González Fraga. The report, entitled "Elements-Denunciation Vicentín", analyses cereal debt and reflects that financial assistance had been growing since before the arrival of Cambiamos to the government in December 2015.

He notes that in the last 20 years, the company has been one of the largest clients of Banco de La Nación,"always fulfilling its obligations on time, and generating a lot of commission revenue, since it channelled most of its exports through the entity".

It also reveals that the largest increase in credit was between 2011 and 2014, with 88.8%, during the presidency of Cristina Kirchner while in Macri's management it was 36%.

In fact, in April 2014 the company opened its milling plant,considered the largest in the world, where it had invested more than $1 billion, with financing from international organizations such as IDB, CAF, IFC, as well as Argentine public banks.

Cristina herself attended the opening of that plant and announced the sending to Congress of a law to deduct the production and export of biodiesel, whose main beneficiary was Vicentín.

According to the document, the evolution of its credit rating, in dollars, had a 240% rise between 2008 and 2013, the year in which it was already rated at $170 million.

"At the end of 2016, Management of Carlos Melconian,was in u$s220 million, in June 2018 reached us $s300 million,36% increase, and stayed at the same value in the last 18 months of management Javier Gonzalez Fraga", adds the report which clarifies that the increase in the credit rating was in line with the increase in the turnover and equity of the company, measured in dollars.

And it bases it on four aspects:

Increased country risk,which makes external credit more expensive and hindered, a regular source of financing for these exporting companies.
Devaluation risk that is verified by moving the exchange rate to $40 and intensifies after THE STEP when it exceeds $60 per dollar.
Fear of greater withholdings, which is confirmed in December, and encourages producers who had grains in Vicentín to request payment of them in advance. That amount exceeded $400 million. The post-STEP financial run of dollar deposits (almost 30% at most local banks, and 23% at BNA), prevents Vice-Latin from obtain financing in local banking.

Lozano's report refuted....
The analysts of Cambiamos also criticize a report by Claudio Lozano, director of Banco de La Nación, who had argued that the "indebtedness process with the NAB exceeded the allowed margins".

"Not so," they warn from the PRO's political alliance, explaining that this company's borrowing limit was fixed at $300 million since June 2018 and that those limits were exceeded by the reduction of the bank's capital measured in dollars of $4.5 billion at the end of 2017, $1.5 billion in mid-2019, as a result of transfers to the National Treasury decided in the Budget Laws 2018 and 2019, and by the devaluation of the peso since April 2018, far higher than the revaluation of Banco de La Nacion's assets.

"By learning that we had exceeded that margin, it was decided not to renew the limit in July 2019, and to start talks with the company to achieve in 90 days to add a CoFACE Bond insurance for us$s100 million; gradually lower the indebtedness when it could, to us$205 million allowed; obtain a mortgage guarantee on another company plant." In the meantime, they would be renewing the operations that were overdue. Not doing so would have unleashed a run of producers with grains collected in Vicentin at the beginning of August," adds the Cambiamos report.

The authors of the document also claim that during that period, Zonal Reconquista Management and its superiors considered that Vicentín deserved such funding, and that the only problem was the limit affecting the Banco de La Nacion by the reduction of its dollar-measured equity.