- Title: Argentina Treasury minister resigns amid economic crisis
- Date: 18th August 2019
- Summary: BUENOS AIRES, ARGENTINA (FILE - NOVEMBER 2018) (REUTERS) VARIOUS OF EXTERIOR OF ECONOMY MINISTRY BUENOS AIRES, ARGENTINA (FILE - MAY 2018) (REUTERS) VARIOUS OF ARGENTINE PESOS BEING COUNTED MONITOR SHOWING DOWNWARD STOCK MARKET MOVEMENT VARIOUS OF PEOPLE ON FLOOR OF STOCK
- 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: LVA006ASLWGG7
- 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)
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