Argentina President Cristina Fernandez, said Thursday that public debt will be paid with Central Bank reserves despite a Supreme Court decision barring the use of funds from bank top to form the Bicentennial Fund (phobia ).
The president said Argentina national chain for radio and television that "the debts that this president wants, and will pay, with the Central Bank reserves, as part of what the Constitution says and the Central Bank charter, it are deposited in the accounts of Economy (Ministry of Economy).
The presidential decree provides for the use of central bank reserves to create the Phobia and then to use the funds to pay the debt, was suspended by Federal Judge Claudia Rodriguez Vidal Argentina, judicial sources said Thursday.
The president had ordered on Monday the Central Bank to the Treasury send four thousand 382 million dollars with the purpose of paying the debt.
According to judicial sources, the decision of the judge will be released Thursday and is expected to appeal the Government as soon as possible.
"The resolution is signed but has not yet been publicly reported because they are not parties," the source said.
The judge suspended the decree repealed considered similar to the president last Monday and replaced by two others.
The court decision blocking the decree of necessity and urgency (DNU) that creates the Argentine Debt Relief Fund, for the termination of services of private debt holders for 2010.
The president signed a decree on Monday along with another, which the Treasury affected other 2 thousand 187 million dollars that will be used to cancel liabilities with multilateral lending agencies.
Fernandez signed these decrees repealed after last December that held back the creation of the Bicentennial Fund IV with 6 mil $ 569 million of currency reserves.
Additional info: At News Minute by Minute.
The president said Argentina national chain for radio and television that "the debts that this president wants, and will pay, with the Central Bank reserves, as part of what the Constitution says and the Central Bank charter, it are deposited in the accounts of Economy (Ministry of Economy).
The presidential decree provides for the use of central bank reserves to create the Phobia and then to use the funds to pay the debt, was suspended by Federal Judge Claudia Rodriguez Vidal Argentina, judicial sources said Thursday.
The president had ordered on Monday the Central Bank to the Treasury send four thousand 382 million dollars with the purpose of paying the debt.
According to judicial sources, the decision of the judge will be released Thursday and is expected to appeal the Government as soon as possible.
"The resolution is signed but has not yet been publicly reported because they are not parties," the source said.
The judge suspended the decree repealed considered similar to the president last Monday and replaced by two others.
The court decision blocking the decree of necessity and urgency (DNU) that creates the Argentine Debt Relief Fund, for the termination of services of private debt holders for 2010.
The president signed a decree on Monday along with another, which the Treasury affected other 2 thousand 187 million dollars that will be used to cancel liabilities with multilateral lending agencies.
Fernandez signed these decrees repealed after last December that held back the creation of the Bicentennial Fund IV with 6 mil $ 569 million of currency reserves.
Additional info: At News Minute by Minute.
