In today’s podcast at 11AM Eastern,
Argentina’s Central Bank President Redrado Resigns under duress in a dispute with the government over the use of central bank reserves to pay debt this year. However, other reports state that he is not leaving.
Argentina’s Central Bank President Redrado Is Fired
Argentina President Cristina Fernandez de Kirchner fired Central Bank President Martin Redrado, the state news agency Telam reported.
Redrado, who took office in September 2004, will be replaced by Mario Blejer, the agency reported.
Television channel C5N said Redrado was sacked amid a dispute with the government over the use of central bank reserves to pay debt this year.
An official at the press offices at the presidential palace declined to comment and the central bank press office said it had no information.
Blejer’s wife, Susana, told Bloomberg News that her husband was traveling in Europe and isn’t available for comment.
Redrado has resisted releasing $6.5 billion in foreign currency reserves that Fernandez ordered for a special fund to meet the country’s rising debt obligations this year.
The money that he would have to transfer from the Central Bank’s reserves reaches the amount of 6,569 million dollars. The amount will be used to pay the debt in 2010.
The Globe and Mail has a more detailed report, Argentina asks central bank boss to quit
On December 31, the Wall Street Journal reported that Argentina Central Bank Calls On Government To Stem Inflation. So much for that.