Economy minister resigns in Argentina

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Economy Minister Martin Guzman resigned in Argentina, where the economic crisis deepened.

Economy minister resigns in Argentina 1

Economy Minister Martin Guzman has resigned in Argentina as the economic crisis deepens.Guzman, who took office in 2019, had led negotiations with the International Monetary Fund (IMF) to restructure the country’s external debt.As he resigned, the minister said he would need a political agreement for the coalition government to choose a replacement.

Argentina faces inflation exceeding 60 percent and a depreciating currency. The Argentine peso had depreciated against the dollar in the week before Guzman’s resignation.

Argentina faces inflation exceeding 60 percent and a depreciating currency. The Argentine peso had depreciated against the dollar in the week before Guzman’s resignation.

In his resignation letter to President Alberto Fernandez, the Argentine minister pointed to divisions within the coalition government. On the other hand, Fernandez is known to have disagreements with his deputy Cristina Fernandez de Kirchner on ways out of the economic crisis.

Guzman announced his resignation during a speech in which Kirchner praised the steps Kirchner had taken in the economy so far.Kirchner, who served as president between 2007 and 15, criticized the economic crisis being blamed on the public. She also disapproved of the budget deficit reduction and fiscal tightening policies implemented by Guzman.

If the new economy minister is in line with Kirchner’s views, it is possible that austerity measures will be relaxed and state intervention in the economy will increase.

While this may not make the IMF happy, they may not object.The IMF has been criticized by some analysts for not including enough conditions in the 44 billion package it signed with Argentina.

Ali Esen

Istanbul University, Department of Mathematics. Interested in science and technology.

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