Argentina’s central bank chief has resigned after just three months in the job, triggering a 5 per cent slide in the peso and hitting President Mauricio Macri’s attempts to restore investor confidence in the midst of a currency crisis.
The departure of Luis Caputo came as Mr Macri’s government struggled with a 36-hour general strike against his new austerity budget and sought to close a revised bailout deal with the IMF, which has already extended a $50bn programme to shore up the country’s finances.
“The timing could not be worse for Argentina,” said Paul Greer, a portfolio manager at Fidelity.
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