Wednesday, February 3, 2010
Redrado’s era comes to an end
Argentina: Bank independence at stake as Redrado exits
After a turbulent few weeks in Buenos Aires, Martin Redrado’s time as central bank governor of Argentina after more than five years is over. His departure will be Argentina’s loss.
In December, president Cristina Kirchner issued a decree stating that the central bank had to supply $6.6 billion in reserves to meet the country’s financing needs. The money represents a change to the initial budget set out last year; the pesos set aside to pay for dollar reserves would be retracted and placed in a separate debt-repayment fund.
Redrado refused to agree to the request. He...
