Argentina’s chancellor resigns days before mid-term election

Argentina’s Foreign Minister, Gerardo Werthein, has submitted his resignation, Argentina’s presidential office reported this Wednesday (22), marking the second departure from that role during the nearly two-year administration of President Javier Milei.

It was not immediately clear why Werthein was resigning or who would replace the South American country’s top diplomat, who previously served as ambassador to the United States.

The announcement was made days before a key legislative election on Sunday (26), in which Milei’s Libertarian Party hopes to increase its minority presence in Congress to safeguard its strategy of sharp spending cuts and austerity to improve Argentina’s economy.

FREE LIST

10 small caps to invest in

The list of stocks from promising sectors on the Stock Exchange

The local newspaper The Nation reported that Werthein was expected to step down after Sunday’s vote, but he submitted his resignation on Tuesday night (21).

Werthein held the position for nearly a year, replacing Milei’s first foreign minister, Diana Mondino, after she was fired for voting in favor of lifting the U.S. embargo against Cuba at the United Nations.

His resignation comes at a delicate time for Milei, whose popularity, due to his success in reducing inflation, has been hit by public anger over the impacts of his cuts, particularly on the elderly and disabled, and by a recent government corruption scandal.

Continues after advertising

Earlier this week, Milei said there would be a cabinet change after the midterm elections, which face greater scrutiny after Washington signaled that its financial support for Argentina could depend on the election results.

The U.S. Treasury agreed to a $20 billion currency swap line with Argentina and signaled it is working on an additional $20 billion line with banks and investment funds.

Source link

News Room USA | LNG in Northern BC