Argentina's central bank chief resigned yesterday after a long tussle with the economy minister and was replaced with a regulator seen as sympathetic to the interventionist stance of a government fighting one of the world's highest inflation rates, Reuters reported yesterday. Juan Carlos Fabrega had argued for tighter anti-inflation policies and opposed the government's heavy fiscal spending, but ran up against the powerful economy minister, Axel Kicillof, who pushed to boost growth in the stagnating economy. Alejandro Vanoli, head of Argentina's markets regulator, will take over as the central bank chief, a spokesman for leftist President Cristina Fernandez said. Fernandez has scaled up her interventionist policies in Latin America's No. 3 economy since it defaulted on its foreign debt in July, intensifying capital flight and piling pressure on shrinking foreign reserves and the peso currency.
