BUENOS AIRES, July 3 — Argentine economy minister Martin Guzman, who led debt renegotiations with the International Monetary Fund, announced his resignation Saturday, sparking fresh uncertainty in Latin America’s third largest economy.
His resignation comes two weeks after Vice President Cristina Kirchner, a former president who has been a constant critic of the government, gave a speech attacking Fernandez’s economic management. As economy minister, the 39-year-old Guzman was tasked with renegotiating a US$44 billion debt with the IMF that Argentina insisted it could not afford to repay.
The IMF deal was only ratified by parliament thanks to support from the centre-right opposition, as a group of legislators in the ruling coalition led by the vice president’s son Maximo Kirchner boycotted the vote.Guzman said whoever replaces him will need “centralised management of the necessary macroeconomic political instruments to consolidate the progress made and face the challenges ahead.”
Earlier this week, Fernandez admitted the country was facing “a growth crisis” due to a shortage of foreign exchange. He complained several times that these criticisms sent worrying signs to already jittery markets, making his job ever harder.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.