The Argentine court ordered the governor of the Argentine Central Bank Martin Redrado be restored to the position and block plan of the country’s president Cristina Fernandez de Kirchner to use foreign reserves to pay external debt, reported BBC. The court decided the emergency decree of the President for the release of Redrado be suspended until the vote on the country’s parliament. The court also held that the government can not pass 6.6 billion by the central bank in a special fund. Redrado angered the president by refusing to transfer to the reserves. He said he would wait for parliament to ratify the measure. Argentina must meet the 13 billion dollar international debt this year and has a budget deficit of between 2 and 7 billion dollars. In two rulings on Friday Judge Maria Jose Sarmiento thwart the efforts of the President to use forex reserves for the payment of Argentina’s debt and its decision to dismiss Redrado. Sarmiento agreed with lawyers Redrado under which the president has no power needed.
Interior Minister Florensio Randaso comment is to Radio 10 that the government will appeal the judgments, because the constitution clearly gives him the right to issue emergency decrees relating to the bank.