Wednesday, October 1, 2014

BCRA chief Juan Carlos Fábrega quits

Central Bank (BCRA) former governor Juan Carlos Fábrega (file photo).

Central Bank governor Juan Carlos Fábrega has tendered his resignation today, following President Cristina Fernández de Kirchner's questionings over BCRA alleged involvement in dollar rate speculation.

Ms Kirchner has accepted his resignation, while Fábrega is negotiating his appointed directors stay in the entity after he leaves.

Local media reported Fábrega could be replaced by Finance Secretary Pablo López, and the announcement could be delivered today. Other changes in the Cabinet could be announced.

Fábrega was confirmed as chief of the financial entity in December 2013, in replacement of Mercedes Marcó del Pont, after having worked in Banco Nación for over 45 years.

He was named head of Banco Nación in 2010, where he also replaced Marcó del Pont