Presidency of Cristina Fernández de Kirchner the Catholic Church. She also reaffirmed her policy of debt reduction in announcing to continue to pay foreign debt with Central Bank foreign reserves which reached a country historic record of $51 billion USD in July. In August 2010, Cristina Fernández began to use her Twitter account. She also preceded the 39th Mercosur summit at San Juan where the trade bloc agrees to reduce customs fees and signs a free-trade deal with Egypt On September 2010, it was announced that Argentina was elected president of the Group of 77+China and prepared to act as a ‘bridge" with G-20 major economies
Cristina Fernández de Kirchner opted instead to send a bill to Congress for the renationalization of YPF, privatized in 1993, blaming the Spanish company Repsol for the energy trade deficit. The bill was approved by the Chamber of Deputies by a 207-32 margin. It was criticized as an authoritarian move, as there was no negotiation with Repsol. As well, the Vaca Muerta oil field had been discovered by this time. However, YPF was unable to afford the costs to exploit the oil at the site, and the rights to drill at Vaca Muerta were sold to the Chevron Corporation. The costs of energy imports