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Argentine Central Bank Chief Quits in Currency Dispute; Hyperinflation On the...


On Tuesday evening, Argentine President Cristina Fernández accused Juan Carlos Fábrega, head of Argentina's central bank, of "provoking a devaluation of the peso".

In response Head of Argentine Central Bank Quits.

Without naming Mr Fábrega directly, Ms Fernández accused the central bank during a nationwide address on Tuesday night of failing to control "manoeuvres" by banks and brokers to provoke a devaluation of the peso, and suggested that "privileged information" had been leaked.

After continual clashes over economic policy with Argentina's economy minister Axel Kicillof, there are fears that Mr Fábrega's departure may clear the way for greater government control over the central bank.

"Kicillof has increased his power, he will have a bigger say on monetary issues and we should expect an acceleration in the pace of the worsening of financial conditions," said Miguel Kiguel, who runs the EconViews consultancy.

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