Page last updated at 17:51 GMT, Wednesday, 6 January 2010

Argentine bank boss asked to quit

President Cristina FernŠndez
President Cristina FernŠndez is battling soaring public debt

Argentina's central bank governor has rejected a call from the country's president to resign.

Governor Martin Redrado was asked to leave his position after refusing to use central bank reserves to help pay of some of Argentina's rising debts.

President Cristina Fernandez had asked Mr Redrado to transfer $6.5bn (£4.1bn) of reserves into a government fund.

Argentina's debts rise this year to $13bn, with a hole in its budget estimated at between $2bn and $7bn.



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SEE ALSO
Argentina launches new debt deal
23 Oct 09 |  Business
Country profile: Argentina
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Argentina to pay back $6.7bn debt
03 Sep 08 |  Business

FROM OTHER NEWS SITES
Al Jazeera Argentina sacks central bank chief - 3 hrs ago
France24 Central banker steps down, vows legal action - 3 hrs ago
Los Angeles Times Argentina's president fires central bank chief over foreign reserves - 3 hrs ago
Xinhua News Agency Argentine president removes central bank chief - 4 hrs ago
Washington PostArgentine president fires central bank chief - 9 hrs ago
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