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BBC News - Court backs Argentina government's debt plan

Court rulings in Argentina have cleared the way for controversial government plans to use central bank reserves for servicing the country's debt.

The rulings overturn opposition efforts to stop President Cristina Fernandez de Kirchner from using $6.6bn (£4bn).

Argentina has $15bn of international debt that matures this year, and a hole in its budget of between $2bn and $7bn.

In January, central bank chief Martin Redrado resigned after a bitter public row with the president on the issue.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Wed Mar 31st, 2010 at 01:46:23 PM EST
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