March 1, 2006
Mario BlejerMario Blejer has many of the qualities of a good central banker: he is quietly persistent, soft-spoken and even jovial. He also has a clear vision of how central banks should function and be governed, which is a controversial subject. Blejer got into trouble when he became governor of Argentina's nominally independent central bank in 2002, just after the government defaulted on $100 billion in debt, plunging the country into its worst financial crisis in modern times.
Blejer disagreed with Roberto Lavagna, who was finance minister at the time, on issues of central bank independence. Blejer favored providing liquidity to Argentina's stricken banks to prevent their full
Mario Blejer, a former Argentine central banker who runs the Bank of England's Centre for Central Banking Studies, spoke with LatinFinance's Wall Street editor, Maria O'Brien.