The Kirchnerist Silvina Batakis, new Minister of Economy of Argentina after resignation of Guzmán

First modification: 07/04/2022 – 11:32

By our correspondent in Buenos Aires, John Buchet.

A renowned economist without political weight replaces Martín Guzmán at the head of the Ministry of Economy. Guzmán, close to President Alberto Fernández and whose greatest achievement was the agreement with the IMF, had resigned on Saturday, considering that he could no longer perform his functions.

Without saying it openly, he denounced the impossibility of implementing certain measures due to the resistance of officials linked to Vice President Cristina Kirchner, in open war with President Fernández, but also the delays of the latter when he needed his support.

The appointment of Silvina Batakis, former Minister of Economy of the province of Buenos Aires between 2011 and 2015, took place after a telephone exchange between Fernández and Kirchner at the end of the day.

Inflation and political divisions

Previously, during the negotiations in the presidential palace, there had been talk of a major ministerial change, which included the entry into the government of Sergio Massa, president of the Chamber of Deputies, on good terms with the head of state and with the vice president.

Batakis, 53, will have to face the reactions of the markets this Monday. In a context of economic crisis, his appointment highlights the extent of the divisions in the ruling Peronist coalition, whose two supposed leaders, Fernández and Kirchner, are weakened.

It will also have to face inflation forecasts, of 60% in 2022, and poverty (37% of the population).