Argentine economy minister who renegotiated IMF debt resigns
Argentine economy minister Martin Guzman, who led debt renegotiations with the International Monetary Fund, announced his resignation Saturday, sparking fresh uncertainty in Latin America's third largest economy.
Guzman did not say why he resigned in his statement addressing President Alberto Fernandez, but called on the center-left leader to mend internal divisions so that "the next minister does not suffer" the same difficulties he did.
"It will be essential that you work on an agreement within the ruling coalition," he added in the statement shared on Twitter.
His resignation comes two weeks after Vice President Cristina Kirchner, a former president who has been a constant critic of the government, gave a speech attacking Fernandez's economic management.
Political analyst Carlos Fara told AFP that Guzman's resignation was "a check mate for the president's autonomy" and had given Kirchner the upper hand in their power struggle.
"The resignation will have a very bad effect in the markets. Even if the president and vice president reach a consensus on managing the economy, from now on everything will be conditioned by Cristina Kirchner's pressure."
As economy minister, the 39-year-old Guzman was tasked with renegotiating a $44 billion debt with the IMF that Argentina insisted it could not afford to repay.
The original debt of $57 billion -- the last tranche of which Fernandez declined after succeeding his liberal predecessor Mauricio Macri, who had solicited the loan -- was the largest ever issued by the IMF.
Despite resistance from Kirchner, Guzman managed to agree a deal and save Argentina from defaulting.
But Guzman was often faced with hostility from the Peronist Justicialist Party, the major force...