Saturday, May 14, 2016

Ex-Argentine Leader Fernandez Indicted in Central Bank Case

Former Argentine President Cristina Fernandez was indicted on Friday over accusations that she oversaw irregularities in the central bank's sale of U.S. dollars in the futures market while she was in office, reports Reuters.

Federal Judge Claudio Bonadio charged Fernandez, her former economy minister Axel Kicillof and former central bank chief Alejandro Vanoli with "unfaithful administration to the detriment of public administration," according to court papers.

The accusation is that the central bank took billions of dollars worth of money-losing positions in the futures market ahead of a widely expected devaluation of the Argentine peso.

The transactions referred to in the case involved $5 billion to $17 billion, according to court papers published by Argentina's Judicial Information Center.

The shorting of dollars would have been done as part of an insane attempt to prop up the Argentine peso.

She should really be charged for the mad money printing which went on during her reign.


1 comment:

  1. But, but... Isn't it great that she overcame male privilege?