A judge in Argentina has ruled that the former president, Cristina Fernandez should stand trial on charges of financial mismanagement. Fernandez is accused of fraudulently administering state funds in 2015. The former economy minister, Axel Kiciloff, and the former head of the central bank have also been charged.
Former Argentine president Cristina Fernandez was prosecuted on Friday for fraudulent administration in detriment of the Argentine state in the so called “dollar futures' ”case, including the seizure of 15 million Pesos in assets equivalent to a million dollars.
Former Argentine President Cristina Fernandez was charged on Friday with defrauding the state as part of her government's handling of the dollar futures market. Federal judge Claudio Bonadio said that a scheme to keep the Argentine peso inflated by selling dollars below market value would not have been possible without Fernandez's approval.
Hundreds of supporters are expected to cheer former Argentine President Cristina Fernandez during a court appearance on Wednesday after returning to Buenos Aires for the first time since November's election.Fernandez who governed Argentina for eight years, has been called to testify about alleged irregularities in dollar futures trading that led to losses of almost US$4 billion for the central bank. Her allies say no crime was involved and that she's being politically persecuted.
After rough discussions, Argentina's Lower House committees on Tuesday managed to clear the holdouts bill for debate with changes proposed by the allied Renewal Front and criticism from Victory Front lawmakers.The bill will reach the floor next week. If it passes, it will then be up for debate in the Senate, where the situation is similar, with the ruling Let’s Change needing help from opposition lawmakers to ensure the bill passes.
Argentina's incoming Finance minister Alfonso Prat-Gay spoke with the United States Treasury Secretary Jack Lew to discuss economic plans to achieve sustained economic growth. The minister also announced in a long interview with Buenos Aires main dailies that lifting the dollar 'clamp' as promised by president-elect Mauricio Macri, will much depend on the level of international reserves Argentina can count with.
Argentina will likely end the year with a fiscal deficit of 3.5% of GDP, Economy Minister Axel Kicillof said on Wednesday, rejecting estimates by the opposition for a deficit around twice as high.
Argentina signed two nuclear power plant construction deals with China on Sunday worth around US$15 billion, which would add 1,750 megawatts to the energy already produced by the country's three nuclear power plants.
Any country, any economy needs confidence and positive expectations, and that is what is lacking, and has been lacking in Argentina for many years, said Jorge Brito, head of the Association of Argentine banks, who nevertheless warned about the impacts of a 'rough' adjustment on the economy.
Argentina's supreme court has ordered state-controlled YPF to publicly release all clauses of a 2013 contract with Chevron to develop shale oil in the country's vast Vaca Muerta formation. In a 3-1 ruling, the justices sided with opposition Socialist Senator Hector Ruben Giustiniani, ruling that the state's 51% stake in the firm effectively makes it a public company subject to transparency laws.