Presidency of Cristina Fernández de Kirchner the Catholic Church. She also reaffirmed her policy of debt reduction in announcing to continue to pay foreign debt with Central Bank foreign reserves which reached a country historic record of $51 billion USD in July. In August 2010, Cristina Fernández began to use her Twitter account. She also preceded the 39th Mercosur summit at San Juan where the trade bloc agrees to reduce customs fees and signs a free-trade deal with Egypt On September 2010, it was announced that Argentina was elected president of the Group of 77+China and prepared to act as a ‘bridge" with G-20 major economies
Cristina Fernández de Kirchner dollars. The nationalization was justified by the president as government protectionism during the crisis, and compared with the bank bailouts in Europe and the United States. It was criticized as a threat to property rights and the rule of law. Fernández resigned after the Kirchnerite defeat in the 2009 elections, and was replaced by Amado Boudou, president of the ANSES which had worked for that nationalization. Although inflation was nearing 25% and on the rise, Boudou did not consider it a significant problem. In January 2010, Cristina Kirchner created the bicentennial fund employing a necessity and urgency decree in order