Zoellick Says Argentina’s Nationalization Makes it an ‘Outlier’
World Bank President Robert Zoellick said Argentina is an “outlier” in Latin America and most of the region’s leaders see the country’s nationalization this week of YPF SA (YPFD) as a “mistake.”
Zoellick, in an interview with Bloomberg Television today, said Argentina’s expropriation of the assets owned by Spain’s Repsol-YPF SA (REP) reflect “populist” and protectionist pressures that are prevalent in several countries around the world.
Zoellick said he shares the views expressed this week by Mexican President Felipe Calderon that “no one in their right mind” would invest in a country that nationalizes companies.
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