The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Redrado’s tenure

Inside Redrado’s battle for Argentina’s central bank
The creeping hand of the state
The end of the Redrado era: a timeline


The presidency of Argentina’s central bank is one of the toughest jobs in the financial markets. As well as possessing the necessary technical skills, the bank’s head needs to demonstrate political dexterity and a stomach for the odd financial crisis. So perhaps the biggest surprise of Martin Redrado’s tenure was not its end but that he survived for as long as he did. Even though he fell short of seeing out his full term, he is the second-longest-serving president in the institution’s history.

When he assumed office in September 2004, Argentina had yet to undertake its restructuring on $81 billion of defaulted debt. The offer was made the following year. That issue remains a hurdle for Argentina, with investors still holding about $20 billion of debt waiting for better terms.

Indeed one of the reasons why Redrado was so against the government taking $6.6 billion of the central bank’s reserves was because he feared it might lead these bondholders to bring lawsuits against the bank.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree