BUENOS AIRES (Reuters) – In the first government reshuffle of his five-month administration, Argentine President Javier Miley accepted the resignation of Cabinet chief Nicolas Posse on Monday evening amid tensions over major economic reforms proposed by the government.
Posse will be replaced by current Interior Minister Guillermo Francos, according to a government statement.
The Cabinet reshuffle comes at a particularly sensitive moment for Miley, a far-right libertarian economist, as his signature reform bill faces new hurdles in Congress and growth in the government bond and local currency markets appears to have stalled.
The statement added that the outgoing cabinet minister’s next position would be announced in the coming days.
Posse was a key part of the team involved in debt negotiations with the International Monetary Fund (IMF), along with Economy Minister Louis Caputo.
Economic reforms promoted by Miley include plans to privatize state-owned companies as well as other austerity measures aimed at reversing a long-running economic crisis marked by inflation approaching 300%.