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Argentina's president valued at $8.6 million
Published in Bikya Masr on 08 - 08 - 2012

Argentina's President Cristina Fernandez has assets of almost 40 million pesos, according to her latest income statement before the Anti Corruption office.
This includes the 31 million inherited from her late husband Nestor Kirchner who died in October 2010, local media reported.
In US dollars and at the official exchange rate this amounts to $8.6 million and $6.2 million at the parallel market rate.
The 31 million Argentine Pesos inherited from her late husband include properties, assets, companies and debts. The other 31 million went to her two children Florencia and Maximo.
The long list of assets from the deceased president includes 28 real estate properties and plots at the very valuable resort of El Calafate plus 50 percent of the family home where Nestor Kirchner died located in the same town.
Companies are the most profitable: 49 percent of shares from Hotesur which manages the five star Alto Calafate Hotel are valued at 7.2 million Pesos. Another hotel company, Los Sauces SA which manages a boutique-hotel with the same name in El Calafate and where the president holds a 45 percent stake is worth 2.3 million Pesos.
Fernandez also declared bank accounts totaling 16.7 million Pesos which includes the US$3.2 million she exchanged into Argentine currency as an example for her cabinet members. The sum is deposited at the Banco Nacion, However half of the sum belongs to the two children.
Rents from all the properties in the province of Santa Cruz totaled last year almost four million Pesos to which must be added the interest returns on bank deposits of almost 2.49 million Pesos.
To this must be added her annual salary as president equivalent to 331,809 Pesos plus the pension from her deceased husband and former president which amounts to 420,048 Pesos.


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