More chaos in Argentina, where the financial crisis, due to the technical default of last July 31st, is superimposed on an increasingly heated electoral campaign (even if we will vote in a year's time). President Cristina Fernandez has accepted the resignation of the governor of the central bank, Juan Carlos Fabrega: this was reported by a spokesman for the Casa Rosada, Alfredo Scoccimarro, who added that Fabrega will be replaced by Alejandro Vanoli, who currently heads the National Commission of control over the financial markets.
The news had negative repercussions on the Buenos Aires Stock Exchange which yesterday, in the wake of the later confirmed rumors of the resignations, closed with a very heavy drop: -8,22%. However, the South American market is actually the one that has recorded the best performance since the beginning of the year, marking an increase in 2014 of over 120 percent. Despite Argentina being at loggerheads with the US judiciary, which has blocked the payment of the coupons of some of its government bonds, triggering the technical default.
