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Argentina ex-president indicted

Saturday, May 14, 2016 - 00:39

Argentina's former president Cristina Fernandez has been indicted over central bank sale of U.S. dollars while she was in office. Rough cut (no reporter narration).

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NATURAL ROUGH CUT - NO REPORTER NARRATION Former Argentine President Cristina Fernandez was indicted on Friday (May 13) over accusations that she oversaw irregularities in the central bank's sale of U.S. dollars in the futures market while she was in office. Federal Judge Claudio Bonadio charged Fernandez, her former economy minister Axel Kicillof and former central bank chief Alejandro Vanoli with "unfaithful administration to the detriment of public administration," according to court papers. The ruling, which gives a green light for prosecutors to put Fernandez on trial, may be appealed. There was no arrest warrant. Fernandez is revered by millions for the generous welfare programmes she offered while in office and reviled by others for economic policies such as nationalizing businesses and placing heavy-handed controls on the economy. The accusation is that the central bank took billions of dollars worth of money-losing positions in the futures market ahead of a widely expected devaluation of the Argentine peso. Fernandez, who heads a large faction of the Peronist party, stepped down in December at the end of her second term. The transactions referred to in the case involved $5 billion to $17 billion (£3.4 billion to £11.8 billion), according to court papers published by Argentina's Judicial Information Center (CIJ).

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Argentina ex-president indicted

Saturday, May 14, 2016 - 00:39