The disastrous management of the ultra-Kirchnerist Axel Kicillof as Cristina Kirchner's Minister of Economy was, without a doubt, one of the most costly and negligent in the history of Argentina.
The million-dollar bill left by Kirchnerism between bad agreements and lawsuits against Argentina reached 41.624 million dollars. However, thanks to the strong judicial defense promoted by the government of Javier Milei, one of the most onerous lawsuits inherited from that administration collapsed completely.
Bringing default debt to approximately 25.5 billion dollars.The sentence for the expropriation of YPF: The trial that collapsed
The lawsuit for damages resulting from the expropriation of YPF, prompted by the Kicillof decision in 2012, had resulted in a monumental conviction of 16.1 billion dollars (with interest exceeding 18 billion)
.This figure was a direct consequence of Kicillof's ideological whims. However, thanks to the government of Javier Milei, the New York Second Circuit Court of Appeals completely reversed the trial ruling. Argentina avoids paying any of that millionaire sum. This is a historic triumph and one of the greatest legal achievements in national history, which dramatically alleviates the
inherited burden.
Fund and Judge Griesa
A disastrous strategy Far from seeking an agreement with creditors, Kicillof opted for a combative and delaying stance
before Judge Griesa in the US courts.His arrogant attitude not only prolonged the resolution of the conflict, but it ended with a firm conviction that tripled the original value of the debt, creating an obligation of 12,627 million dollars for Argentina. This catastrophic result was nothing more than the fruit of
ideological irresponsibility.However, under the current administration of Milei, an agreement was reached at the beginning of March 2026 with the remaining holdouts to pay the debt obligations.
Repsol - YPF case: A negotiation failure, Kicillof
tried to show himself as a firm negotiator in the expropriation of YPF, going so far as to threaten that it would be Repsol who should compensate Argentina. The result? $5 billion paid for half of a company that was already ours. This “triumph” cost the country a sum that could have been avoided
