Argentina’s Economy Minister Resigns

Argentina’s Economy Minister Jose Luis Machinea resigned, walking out after a tumultuous 15 months in which he failed to get a stagnant economy moving again. “The minister presented his resignation and I understand the president accepted,” the Economy Ministry’s Secretary for Regional and Economic Planning Miguel Bein told Reuters. Bein said he did not know who would replace Machinea. The resignation follows strong criticism of the government’s inability to pull the economy, Latin America’s third-largest, out of a two-year spell in the doldrums. The shake-up comes at a fragile time for Argentina, which has seen investors turn sceptical of its ability to get the economy moving again after a brief respite in January when it secured a $40-billion financial aid package.

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