Argentine court reinstates sacked Central Bank chief

BUENOS AIRES - A judge overturned Argentine President Cristina Fernandez de Kirchner’s move to sack Central Bank President Martin Redrado.

Fernandez de Kirchner had issued a decree Thursday accusing Redrado of failing to do his job and relieving him of his duties.

Redrado had refused to allow Fernandez de Kirchner’s centre-left government to use $6.57 billion of foreign currency reserves to help cover state debt payments due in 2010. He sided with the political opposition, which also opposed use of the cash reserves to pay interest on government debt.

Judge Maria Jose Sarmiento’s order Friday also blocked the government from spending the disputed reserves.

The power struggle over the issue may eventually be decided by the Argentine Congress.