Argentine reserves row rocks investor confidence

摘要

Argentina's president Cristina Fernandez de Kirchner's decision to request central bank governor Martin Redrado's resignation has led to international investor concern about the monetary authority's independence. Mr Redrado refused to release $6.5bn in foreign currency reserves that Ms Fernandez had ordered for a special fund to meet the country's rising debt obligations of $13bn, and the president took steps to replace Mr Redrado with Mario Blejer, who was central bank president in 2002.rnHowever, Mr Redrado appealed, arguing that under the central bank's charter, only Congress could remove him from his post, and a judge has since reinstated him and blocked the release of the funds until Congress returns from recess.