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

Inside Redrado’s battle for Argentina’s central bank

When Argentine president Cristina Kirchner tried to grab $6.6 billion of reserves from the country’s central bank, its governor Martin Redrado refused to play ball. A stand-off ensued that threatened a full-scale constitutional crisis. This exclusive account reveals the political tensions and the dirty tricks as Redrado struggled to maintain the independence of the central bank, eventually at the cost of his own job.

Redrado’s tenure

The creeping hand of the state
The end of the Redrado era: a timeline

When president Kirchner issued a decree in December requesting $6.6 billion of central bank reserves to pay outstanding debts, more than money was at stake. The bank’s very independence was under threat. Its governor, Martin Redrado, refused to play ball.

The ensuing stand-off between Argentina’s most powerful person and its most important financial official threatened to snowball into a full-blown constitutional crisis. Luckily it didn’t as Redrado managed to stave off the government’s attempts to grab the reserves, although at a cost to his own career.

In an exclusive interview with Euromoney he gives the inside story of those tumultuous weeks when his credibility and that of his institution were on the line. It’s a riveting insight into one of the toughest jobs in the financial markets and details the machinations of Argentine politics under the leadership of Cristina Kirchner. Sudip Roy and Chloe Hayward report.




MARTIN REDRADO, PRESIDENT of Argentina’s central bank, looked at his computer screen.


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