Argentina Treasury minister resigns amid economic crisis

Record ID: 1427617

  • Title: Argentina Treasury minister resigns amid economic crisis
  • Date: 18th August 2019
  • Summary: BUENOS AIRES, ARGENTINA (FILE - AUGUST 11, 2019) (REUTERS) ***WARNING: CONTAINS FLASH PHOTOGRAPHY*** VARIOUS OF PRESIDENT MAURICIO MACRI CASTING VOTE IN BALLOT BOX CANDIDATE ALBERTO FERNANDEZ CASTING VOTE
  • Embargoed: 1st September 2019 01:10
  • Keywords: economy President Mauricio Macri Argentina presidential candidate Alberto Fernandez Hernan Lacunza Treasury Minister Nicolas Dujovne election Buenos Aires peso
  • Location: BUENOS AIRES AND RIO GALLEGOS, SANTA CRUZ PROVINCE, ARGENTINA / WASHINGTON, D.C., U.S.A.
  • City: BUENOS AIRES AND RIO GALLEGOS, SANTA CRUZ PROVINCE, ARGENTINA / WASHINGTON, D.C., U.S.A.
  • Country: Argentina
  • Topics: Government/Politics,Elections/Voting
  • Reuters ID: LVA003ASLWGG7
  • Aspect Ratio: 16:9
  • Story Text: Argentina's Treasury Minister Nicolas Dujovne has resigned, saying in a letter seen by Reuters on Saturday (August 17) he believed the government needed "significant renewal" in its economic team amid a crisis which saw the peso plunge this week.
    Dujovne said in a letter to Argentine President Mauricio Macri that he had given his "all" to the job, helped tame a significant deficit and trim public spending.
    Macri has appointed Hernan Lacunza, the current economy minister for Buenos Aires province, as Dujovne's replacement, a government source told Reuters.
    Argentina's peso was in free-fall for most of this week after a shock primary election result on Sunday (August 11), when centre-left Peronist candidate Alberto Fernandez trounced centre-right Macri, in what was widely seen as a referendum on the government's seeking of a loan from the International Monetary Fund and austerity measures it took as a condition for the loan.
    The peso depreciated 21% by the end of the week and on Friday (August 16), in a fresh blow to Macri, ratings agencies Fitch and S&P downgraded Argentina's sovereign debt rating, raising the spectre of a default as the October election approaches.
    (Production: Horacio Soria, Paul Vieira)
  • Copyright Holder: FILE REUTERS (CAN SELL)
  • Copyright Notice: (c) Copyright Thomson Reuters 2019. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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