Argentine President Cristina Fernandez on Wednesday named Mercedes Marco del Pont as the new chief of the Central Bank of Argentina (BCRA), replacing Martin Redrado.

Argentina’s President Cristina Fernandez talks during a press conference in Buenos Aires Feb. 3, 2010. Fernandez removed Martin Redrado as the Central Bank President in January and named Marco Del Pont as his successor on Wednesday. (Xinhua/ Martin Zabala)

Redrado was fired by Fernandez last month for refusing to approve the transfer of some 6.56 billion U.S. dollars of the international reserves to pay for the country’s external debt.

Fernandez said Redrado was removed for “bad behavior and not fulfilling his tasks of a public officer.”

The president admitted that the removal caused some institutional crisis and “tension,” but it was mostly due to the “lack of collaboration” from the opposition.

“All the institutional tension could have been avoided if we have acted with more rationalism,” Fernandez said.

Marco, 50, is a Yale-educated economist and president of the Nacion Bank. She will be replaced by Juan Carlos Fabrega.

When she was a lawmaker, she had proposed reform on the organic charter of the BCRA. Her nomination increases the chance of the reform, analysts said.

VietNamNet/Xinhuanet