Argentina: Argentina’s finance minister unexpectedly resigned on Saturday, dealing a fresh blow to the government of President Alberto Fernandez as the country continues to face economic problems. Finance Minister Martin Guzmán stepped down after a week of economic turmoil, as Argentina’s currency fell to an all-time low against the dollar amid sharp inflation and truckers calling for diesel shortages. Took a protest. No immediate successor was announced. “I submit to you my resignation as Finance Minister,” Guzmán said in a seven-page letter addressed to Fernandez.
He shared the letter on Twitter, highlighting the internal battle within the administration. Referring to the tension, Guzmán announced his resignation. At the same time, Vice President Cristina Fernandez criticized the government’s economic policies in a speech. The Vice President has been the President himself. The resignation comes at the end of a week full of economic turmoil. Argentina has been battling a dollar shortage for years, partly stemming from Argentina’s distrust of its own currency amid high inflation.
Inflation is running at an annual rate of over 60 percent and economists expect the rate to continue to worsen. The stoppage of truck drivers has disrupted economic activity, including the supply of grain to ports, one of Argentina’s main imports. On Wednesday, the government said it was trying to increase the availability of diesel by allowing more biofuels to be added to the fuel and suspending the import tax on diesel.
