Argentina’s central bank chief resigns

January 31st, 2010 - 5:46 am ICT by IANS  

Buenos Aires, Jan 31 (IANS/EFE) Argentina’s central bank head Martin Redrado has resigned.
His resignation came before a congressional panel could issue a non-binding opinion on President Cristina Fernandez’s decision to fire him.

“The government has sought to trample on Congress and on the independence of the central bank by carrying off the reserves, which belong to the people, and I imposed technical and professional limits,” Redrado said Friday at a press conference.

President Fernandez issued a decree firing Redrado Jan 8, after he refused to comply with an executive order to transfer $6.6 billion of Argentina’s $48.1 billion in international reserves to a fund set up to pay a portion of the country’s sovereign debt.

Redrado secured a court order suspending his dismissal and an appeals court upheld that ruling, prompting Fernandez to ask the legislative panel to issue a non-binding opinion on the matter.



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