Argentine Leaders Submit Resignations
Argentine President Raul Alfonsin and Vice President Victor Martinez on Friday submitted early letters of resignation to Parliament, government officials said.
Alfonsin’s resignation, which he announced June 13, will be formally accepted July 8, the day President-elect Carlos Saul Menem is due to take power.
“They have my resignation and the resignation of the president,” Martinez said. “The envelopes will be opened on July 7 for consideration by Congress.”
The early resignations will allow Menem to take office five months ahead of schedule in order to quickly tackle the country’s severe economic problems. Argentina is suffering from hyperinflation, with the cost of living rising faster than 100% a month.
Menem is expected to institute severe budgetary steps and other measures in an attempt to control the inflationary spiral.
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