MercoPress. South Atlantic News Agency

Kirchner victory as Senate ratifies nomination of Central Bank governor

Economist Mercedes Marcó del Pont satisfied with her confirmation

The Argentine Senate finally approved the nomination of economist Mercedes Marcó del Pont as president of the Central Bank, post for which she was named by President Cristina Fernandez de Kirchner last February.

The Upper House supported the controversial economist by 35 to 34 votes with one abstention thus giving the administration of President Cristina Kirchner a long sought after victory.

Since mid March the congressional opposition has been trying to reject the nomination, but had been unable to hold a debate on the issue because of a lack of quorum. However on Wednesday unexpectedly pro Kirchner Senator Adriana Bortolozzi announced she would be present thus opening the way for the needed number of Senators in the floor and the debate.

Although the opposition was expected to garner sufficient votes to throw out the nomination of Marcó del Pont, the final score was 35 to 34 with former president and Senator Carlos Menem, --supposedly belonging to the opposition--, abstaining arguing he had a “high concept” of the economist.

The new head of the Argentine Central Bank took office last February 4 following the replacement of Martin Perez Redrado who was fired by Mrs. Kirchner for refusing to allow the use of the bank’s reserves to pay sovereign debts.

Marcó del Pont was seriously questioned by congressional opposition for having extended 4.382 billion US dollars of the bank’s reserves to the Argentine Treasury last March first without going through Congress and when the dispute was still under consideration by different courts.

“If you close your eyes and look at Mercedes Marcó del Pont record, her capacity and experience, she’s undoubtedly prepared to conduct the Central Bank, but the problem is with her conduct”, said Senator Gerardo Morales, head of the main opposition block.

“We can’t give our support to an official that has incurred in several transgressions of law” he added.

The pro Kirchner Victory Front which lost control of both houses of Congress in last July’s mid term elections, and fearing defeat, has been appealing in support of government policies, to all different kinds of tactics including being absent from the floor.
Senator Miguel Angel Pichetto earlier this week said his pro-government caucus was “willing to attend the Senate session Wednesday” so Congress “can make a return to rationality.”
“We are doing very intense work in every commission, trying to come up with a law that allows the President to use the foreign reserves,” he explained.

Pichetto also referred to Vice-President Julio Cobos' decision to publish a paid-ad in the local newspapers, calling on all senators who were absent during last week's session. ”This measure has allowed for all of us to come to an agreement, and may take us to session today”.