MercoPress. South Atlantic News Agency

Argentina's new central bank president: a blend of Keynes with strong government intervention

Economist Vanoli is the fifth head of the Argentine Central Bank during the Kirchner couple era since 2003.

Alejandro Vanoli, the designated new President of the Argentine Central Bank following Juan Carlos Fabrega’s resignation, is the current leader of the CNV securities regulator, in charge of that entity since 2009 after serving for three years as its deputy.

 He will become the fifth head of the Argentine Central Bank during the Kirchnerite era since 2003.

Vanoli, an economist who graduated from the University of Buenos Aires (UBA), formed part of the so called “Phoenix Plan”; a project which dates back to 2001, consisting of a Keynesian paradigm for the local economy and situating the state with a key regulatory role in opposition to the free market policies taken until that point.

He also served as an official in several technical functions within the local Central Bank and the Economy Ministry, including negotiations of the Argentine foreign debt.

Vanoli is also an author orientated in economic research and has written various articles in scientific magazines.

More recently, he led the capital market reform law which gave the CNV more power to intervene in company boards of directors.

“Our goal is to attract more companies to the capital markets,” he said at the time while trying to dissipate fears about alleged arbitrary use of the powers established in article 20.

Under his leadership, the CNV undertook a variety of steps and operatives to confront the so called dollar 'blue' rise, as he considered it an illegal currency.

In his Twitter account, Vanoli describes himself as “a national and popular economist” and “a Racing Club fan”.