Ruling in favor of YPF: Axel Kicillof's debt collapsed due to bad agreements and lawsuits against Argentina

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.

Vulture

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

.

Club de Paris: Costly submission

Kicillof boasted of “fighting for economic sovereignty”, but when it came time to renegotiate the debt with the Club of Paris, his performance was dismal

.

Not only did he not question the 3,633 million dollars in punitive interests, but he accepted without question the terms imposed on a debt of 4,955 million dollars. These types of negotiations demonstrate Kicillof's ineffectiveness and lack of vision to protect the interests of the nation

.

The province of Buenos Aires: A debt that doubled

.

During his administration in the province of Buenos Aires, his negligence was no less. Instead of defending the people of Buenos Aires, he accepted all the conditions of the bondholders, bringing the total payments in the first 10 years from 3,860 million dollars to 6,624 million dollars

.

This is just another example of how Kicillof, far from managing responsibly, prioritized his political image and allowed the provincial debt to double, damaging the future of millions of Argentines.

PBI Coupon: Lost Trials

The last “gift” from the current governor of the province of Buenos Aires was about the “PBI coupon” case being litigated in the United Kingdom, where Argentina obtained an

unfavorable ruling.

The failure in the courts of London and New York due to the change in the basis for calculating the PBI coupon is another stain on their management. These errors will cost Argentina around 1.5 billion dollars (plus a new extension demand for more than 1.58 billion euros), lawsuits that could have been avoided with an administration that respects international commitments.

The cost of Axel Kicillof

The sum of these errors, not counting the YPF ruling that collapsed thanks to Milei's management, amounts to approximately 25.5 billion dollars, a figure that marks how damaging Kirchnerism

can be.

Kicillof's decisions, characterized by his ineptitude and ideological caprice, mortgaged the country's present. But the current government demonstrated that, with a professional and decisive legal defense, it is possible to reverse even the worst Kirchner inheritances. The collapse of the YPF trial is concrete proof that the mess they left behind can be fixed

.