Argentina bank chief refuses president's demand to resign
Christina Kirchner
Argentina's central bank chief refused to resign after President Christina Kirchner demanded on Wednesday that he step down  in a growing row over payments of debt.
 Martin Redrado had declined to hand over 6.5 billion dollars of Argentina's foreign currency reserves to pay off national debt  after the president ordered him to do so three weeks ago.
 Kirchner announced the call for Redrado's resignation on her official website early Wednesday.
 "They have asked him to step down. He responded that he will not quit " a central bank official said  adding that the government would have to apply the "appropriate mechanism" to remove Redrado.
 However  Kirchner's control over Congress has weakened since mid-term elections last year.
 Kirchner in December signed a presidential decree ordering the transfer of 6.5 billion dollars from central bank reserves to a new fund  known as the Bicentennial Fund  to guarantee debt payments in 2010 and free up cash for other spending.
 Kirchner said in December that she wanted to guarantee the debt payment in an effort to help Argentina end its isolation from global credit markets.
 The prospective payment aimed to "lower as much as possible the future potential indebtedness of our country " Kirchner said.
Argentina's central bank chief refused to resign after [TGT] demanded on Wednesday that he step down  in a growing row over payments of debt.
 Martin Redrado had declined to hand over 6.5 billion dollars of Argentina's foreign currency reserves to pay off national debt  after [TGT] ordered [TGT] to do so three weeks ago.
 [TGT] announced the call for Redrado's resignation on her official website early Wednesday.
 "They have asked [TGT] to step down. [TGT] responded that [TGT] will not quit " a central bank official said  adding that the government would have to apply the "appropriate mechanism" to remove Redrado.
 However  [TGT]'s control over Congress has weakened since mid-term elections last year.
 [TGT] in December signed a presidential decree ordering the transfer of 6.5 billion dollars from central bank reserves to a new fund  known as the Bicentennial Fund  to guarantee debt payments in 2010 and free up cash for other spending.
 [TGT] said in December that [TGT] wanted to guarantee the debt payment in an effort to help Argentina end its isolation from global credit markets.
 The prospective payment aimed to "lower as much as possible the future potential indebtedness of our country [TGT] said.