Silvina Batakis is the new economy minister of crisis-hit Argentina following the abrupt resignation of Martin Guzman.
The shock exit has brought deep-seated splits in the government to the surface, with a more militant wing around Fernandez de Kirchner appearing to land a blow on the more moderate wing over economic plans.
Guzman, a moderate had who served since 2019, was the driving force behind major debt restructurings with creditors. He was also key to sealing a $44-billion deal with the International Monetary Fund this year to replace a failed 2018 program with the global lender. Goldman Sachs analyst Alberto Ramos said the departure of Guzman was a political blow to Fernandez, already facing slumping support in opinion polls ahead of elections next year, and may compromise the relationship with the IMF.
Guzman had come under fire from the militant wing of the ruling coalition around Fernandez de Kirchner, which has been pushing for more state spending to supportHe had been balancing that pressure with the need to cut a deep fiscal deficit, which had become tougher amid soaring energy import costs that have hit foreign currency reserves.
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