BUENOS AIRES (Reuters) – Argentine Economy Minister Martin Guzman, architect of the recent agreement with the International Monetary Fund (IMF) on the refinancing of Argentine debt, announced his resignation on Saturday, exposing in broad daylight the divisions within of the ruling coalition on the management of the economic crisis.
Martin Guzman, 39, posted on Twitter his letter of resignation to pronist president Alberto Fernandez (center-left), who had appointed him to this post on December 10, 2019. He reaffirms in particular his “confidence in [sa] vision of the path that Argentina must follow”.
Argentina is grappling with chronic inflation, around 60% over the last twelve months, and the depreciation of the peso.
Guzman disagreed with powerful Vice President Cristina Fernandez de Kirchner, who ruled the country from 2007 to 2015, over the country’s macro-economic directions. Cristina Kirchner pleads for more social spending in the face of a poverty rate of some 37% in the country, while the former economy minister defended strict control of the budget deficit.
(Report Jorge Otaola, Jorgelinado Rosario, Eliana Raszewski, Lucila Sigal and Hernan Nessi; written by Alex Villegas, told by Sophie Louet)