Argentina central bank President Luis Caputo resigned less than four months into his post as the government struggles to contain economic turmoil and social unrest while it renegotiates a bailout with the International Monetary Fund.
Caputo on Tuesday cited personal reasons for his departure amid reports of disputes with the IMF over Argentina’s exchange-rate policy.
He will be succeeded by Guido Sandleris, a top Finance Ministry official who has a Ph.D. from Columbia University, specializing in finance, macroeconomics and the international economy. Sandleris had previously taught at Torcuato di Tella University in Buenos Aires and was a visiting researcher at the Federal Reserve Bank of Minneapolis and the IMF.
Caputo’s unexpected resignation comes as President Mauricio Macri is facing a growing backlash at home amid a sharp economic contraction and double-digit inflation. On Tuesday, union workers held a strike opposing the government’s plans to cut public spending as analysts say the economy is heading for a recession after gross domestic product contracted 4.2% in the second quarter.
An expanded version of this article appears at WSJ.com
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