New Argentina treasury minister guarantees peso stability

BUENOS AIRES, Argentina (AP) — Argentina’s new treasury minister says he’ll do everything to guarantee the stability of the peso after the local currency’s recent crash.

Hernán Lacunza also said Tuesday that the government will meet commitments with the International Monetary Fund that Argentina took as a condition to get a record loan from the IMF.

Argentina is struggling with an economic crisis.

Conservative President Mauricio Macri recently lost in a primary election by a wide margin against center-left Alberto Fernández.

Macri’s loss and fears of a potential return to interventionist policies by a leftist administration hit markets, crashed the peso currency and sent stocks and bonds tumbling.

Lacunza officially took over the post Tuesday after meeting with Macri. He’s replacing Nicolas Dujovne who brokered the IMF deal and announced his resignation over the weekend.

Categories: International News