Argentine Economy Minister Martin Guzmán, who led debt talks with the International Monetary Fund, resigned on Saturday.
Argentine Economy Minister Martin Guzmán (Photo: Reuters)
Argentina’s economy minister, Martin Guzmán, resigned on Saturday for a government beset by a growing economic crisis.
Guzmán, who led Argentina’s debt restructuring deal with the International Monetary Fund and creditors, posted a letter on his Twitter account announcing his decision.
“I write to you to present my resignation as Minister of Economy,” Guzmán said in a letter addressed to President Alberto Fernández.
The government is facing its lowest approval rating since taking office in 2019. Inflation is running above 60% and peso currency is under increasing pressure. Sovereign bonds have fallen.
People are skeptical about the economy and infiltrating the governing coalition between moderates like Guzmán and a more extremist wing.
Guzmán said that “there must be a political settlement within the governing coalition” to choose his successor.
Miguel Kiguel, former secretary of finance in Argentina, told Reuters that whoever takes office will have a tough time, noting that inflation could reach as high as 80% this year and the gap between official and parallel currency exchange rates is about 100%. % difference.
“We don’t know who’s coming, but it will be very hot potatoes,” Kiguel said. “Whoever comes will have a very complicated time.”