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  • Former Argentine President Cristina Fernandez waves to supporters after arriving at Buenos Aires' metropolitan airport, April 11, 2016.

    Former Argentine President Cristina Fernandez waves to supporters after arriving at Buenos Aires' metropolitan airport, April 11, 2016. | Photo: Reuters

Published 12 April 2016

The former leader has not been charged and according to analysts, and even opponents to her government, the accusation can not be qualified as a crime.

Former Argentine President Cristina Fernandez was welcomed late Monday by a huge crowd of followers upon her arrival in Buenos Aires, where she has been subpoenaed to testify over accusations of “public administration fraud.”

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Fernandez will testify Wednesday as a judge opened an investigation into her alleged involvement in the sale of U.S. dollar futures contracts at below-market rates by the central bank during her administration.

The former leader has not been charged and according to analysts, and even her opponents, the accusation can not be qualified as a crime since the millions in losses, which are argued in the indictment, were caused after conservative President Mauricio Macri assumed power.

As one of his first neoliberal reforms, President Macri decided to devalue the currency from 9 to 15 pesos per dollar, thus preventing the purchase of dollars in the “future scheme,” which was an autonomous decision by the central bank.

Supporters of Fernandez believe that the investigation is being used by the Macri government as a form of political persecution. Her supporters have announced a series of rallies to support the former president during her stay in Buenos Aires.

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Before arriving in the capital, Fernandez was questioned by El Clarin about her frame of mind before facing the charges without any political immunity. "I'm fine, peaceful, why shouldn't I be?" she answered.

Meanwhile, hundreds of followers accompanied her from the airport to her residence in central Buenos Aires. They reject the new government of Macri and demand that he clarify his involvement in the Panama Papers global corruption scandal, rather than waging political revenge against Fernandez, one of the most beloved presidents in the history of Argentina.

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