Argentine Official Stashes the Cash

You think the World Bank's got problems?

Argentina's minister of the economy has just resigned after more than $60,000 worth of cash was discovered in a brown paper bag in her office bathroom.

This comes on the heels of another recent embarrassment for the Argentine government. In May, President Nestor Kirchner was forced to fire two officials over allegedly accepting bribes from a Swedish construction firm in exchange for the contract for a gas pipeline project.

While economic minister Felisa Miceli's stockpile of cash isn't exactly a smoking gun to indicate foul play, it looks more than a little bit suspicious in a political climate that has a historical precedent for being awash with bribery and gifts.

Miceli denies any claims of illegal behavior, and this time around Kirchner remained supportive. Miceli says that the money was a loan from her brother and was simply in her office for "safekeeping" before deposit. Prosecutors have yet to find any evidence to corroborate her version of events since the wad of cash was discovered last month.

But rather than wait around for a verdict, Miceli begrudgingly tendered her resignation on Monday night. Even now that the tainted economic minister is out of the picture, it's a stain on an administration that has been largely successful and scandal-free since taking hold in 2003.

So the recent bout of shady behavior is unlucky for the Kirchner government as it heads into elections this fall. Earlier this month, President Kirchner announced he will not to seek a second term and instead will support the candidacy of his wife, Cristina Kirchner, as Argentina's next president.

by Liz Gunnison