Wednesday , July 17 2019
Home / Amol Agrawal: Mostly Economics / Another Central Bank of Argentina Governor resigns

Another Central Bank of Argentina Governor resigns

Summary:
Argentina’s central bank Governors are as fickle as its economy. In June-2018 Luis Caputo, former Finance Minister was made the Governor. Only to resign in September: The governor of Argentina’s central bank, Luis Caputo resigned on Tuesday for personal reasons, the bank said in a statement, a surprise announcement in the midst of the country’s talks with the IMF that sent the peso tumbling. Former finance minister Caputo has only held the role since June and is the second Argentine central bank president to resign this year. Argentina’s peso currency slid 4.65 percent to open at 39.15 per U.S. dollar after the announcement, traders said. Former Economic Policy Secretary Guido Sandleris was named as Caputo’s replacement, a statement from the presidency said. “This resignation is due

Topics:
Amol Agrawal considers the following as important:

This could be interesting, too:

Amol Agrawal writes Ironically, Alan Turing to be the face of GBP 50 banknote (Ramanujan was in shortlist too!)

Amol Agrawal writes How to Keep Central Banks Independent

Amol Agrawal writes Corporate Governance in Banks in India: Designing a new benchmark index

Amol Agrawal writes When central bankers speak about cloud services instead of the usual monetary policy stuff..

Argentina’s central bank Governors are as fickle as its economy.

In June-2018 Luis Caputo, former Finance Minister was made the Governor. Only to resign in September:

The governor of Argentina’s central bank, Luis Caputo resigned on Tuesday for personal reasons, the bank said in a statement, a surprise announcement in the midst of the country’s talks with the IMF that sent the peso tumbling.

Former finance minister Caputo has only held the role since June and is the second Argentine central bank president to resign this year. Argentina’s peso currency slid 4.65 percent to open at 39.15 per U.S. dollar after the announcement, traders said.

Former Economic Policy Secretary Guido Sandleris was named as Caputo’s replacement, a statement from the presidency said. “This resignation is due to personal reasons, with the conviction that a new agreement with the International Monetary Fund will reestablish confidence in the fiscal, financial, monetary and exchange rate situation,” said the central bank statement.

The news comes as Argentina is finalizing a deal to bolster a $50 billion credit line with the IMF in New York.

Argentina’s recession-hit economy is burdened by high interest rates and a currency that has lost around 50 percent of its value against the dollar this year.

Quite amazing saga of Argentine central bank Governors.

Advertisements
Amol Agrawal
I am currently pursuing my PhD in economics. I have work-ex of nearly 10 years with most of those years spent figuring economic research in Mumbai’s financial sector.

Leave a Reply

Your email address will not be published. Required fields are marked *