We study the impact that the privatization process in Argentina had on income distribution and the welfare of the poor. We divide our study in three main areas: the consumption effect, the employment effect, and the fiscal effect. We use household survey data to try to identify those changes in the economic organization of Argentina that could be associated to the privatization process. We find that the main effects of the privatization process were on the consumption side of the economy. The paper also provides a collection of stylized facts that document the significant structural reform that the Argentinean economy underwent during the 1990’s.