Argentina’s Finance minister Martin Guzman resigns amid economic crisis
Argentina “s economy minister Martin Guzman. BUENOS AIRES– Argentina “s economy minister Martin Guzman has resigned amid the country” s mounting economic crises. The deep conviction and confidence in my vision of the path that Argentina should follow, I will continue to work and act for a more just, free and sovereign homeland, “reads part of the letter.
BUENOS AIRES-(MaraviPost)-Argentina’s economy minister Martin Guzman has resigned amid the country’s mounting economic crises.
Guzmán made the announcement in a letter addressed to the country’s President Alberto Ferández that was shared in his official twitter page.
“I write to you to present my resignation as economy minister. The deep conviction and confidence in my vision of the path that Argentina should follow, I will continue to work and act for a more just, free and sovereign homeland,” reads part of the letter.
His resignation comes a week after the Argentina’s currency hit an all-time low against the dollar amid sizzling inflation and shortages of fuel.
The 39-year-old Guzman did not disclose the reason for his resignation but it comes amid deep splits in the ruling coalition about how to handle the country’s declining economy.
Other reports suggest that the resignation is because of internal battles. In his letter, Guzman has called on Fernandez to mend the divisions so that the next minister does not suffer the same difficulties as he did.
The country is currently battling with rising poverty, unemployment and a depreciating currency before the coronavirus pandemic exacerbated matters, AFP reported.
Earlier this week, Fernandez admitted the country was facing growth crisis due to a shortage of foreign exchange.
The former minister was the driving force in sealing a new $44bn deal with the IMF earlier this year to replace a failed programme from 2018.
Guzman assumed the role of economy minister in 2019 and he was a close ally of President Alberto Fernandez.
Meanwhile, Fernandez has summoned members of his cabinet and allies to an emergency meeting and the replacement for Guzman is yet to be announced.
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