2 0 0 ▁largest ▁companies ▁in ▁Argentina ▁accum ulated ▁US $ 2 8 . 4 ▁billion ▁in ▁prof its , ▁ 5 6 . 8 % ▁of ▁which ▁were ▁earned ▁by ▁priv at ized ▁companies , ▁and ▁ 2 6 . 3 % ▁by ▁fir ms ▁that ▁had ▁t ies ▁to ▁those ▁companies . ▁Pr ices ▁and ▁w ages ▁were ▁virt ually ▁fro zen ▁in ▁Argentina ▁from ▁ 1 9 9 5 ▁to ▁ 2 0 0 1 ; ▁but ▁utility ▁fe es ▁rose ▁in ▁line ▁with ▁the ▁U . S . ▁infl ation ▁rate , ▁const itut ing ▁an ▁additional ▁source ▁of ▁ear nings ▁for ▁the ▁newly ▁priv at ized ▁companies . ▁The ▁linking ▁of ▁public ▁services ▁fe es ▁charged ▁in ▁Argentina ▁to ▁the ▁U . S . ▁infl ation ▁rate ▁enabled ▁priv at ized ▁companies ▁to ▁pocket ▁US $ 9 ▁billion ▁by ▁ 2 0 0 0 . ▁Additionally , ▁priv at ized ▁fir ms ▁sent ▁ 7 0 % ▁of ▁their ▁ear nings ▁abroad ▁while ▁failing ▁to ▁pay ▁the ▁annual ▁con cess ion ▁fe es ▁or ▁to ▁make ▁all ▁the ▁invest ments ▁st ip ulated ▁by ▁the ▁contract s . ▁The ▁companies ▁also ▁imported ▁large ▁quantities ▁of ▁inputs ▁and ▁goods ▁produced ▁by ▁associated ▁fir ms , ▁contract ing ▁heavy ▁trade ▁deb ts ▁in ▁dollars ▁while ▁viol ating ▁a ▁law ▁that ▁required ▁them ▁to ▁prior it ize ▁Argent ine ▁products ▁when ▁making ▁purch ases . ▁ ▁The ▁terms ▁of ▁the ▁priv at izations ▁themselves ▁often ▁included ▁l ops ided ▁benefits ▁to