Argentina’s Milei replaces cabinet chief in major shakeup

Argentina's Milei replaces cabinet chief in major shakeup
Argentina's Milei replaces cabinet chief in major shakeup

Nicolas Posse, the highest-ranked minister, has resigned and will be replaced by someone who played an important role in the president’s austerity program.

Argentine President Javier Milei accepted the resignation of cabinet chief Nicolas Posse on Monday, marking the first cabinet shake-up in his five-month-old administration.

Posse will be replaced by current Interior Minister Guillermo Francos, according to a government statement.

It comes amid strains over major economic reforms pitched by the government.

Francos will be given more political power, including that of the interior ministry, despite the cabinet chief already being the highest-ranked minister.

“Doctor Guillermo Francos will assume the function of head of the cabinet of ministers with the objective of bringing greater political volume” to the role, the government said.

Francos to focus on Milei’s austerity program

Francos is one of Milei’s main negotiators in Congress, where the government’s legislative agenda has been delayed.

The economic reforms pushed by Milei include plans to privatize state companies and other austerity measures aimed at reversing a prolonged financial crisis marked by inflation running at nearly 300%.

Inflation is now starting to fall, but the measures introduced by Milei have hit consumers hard. 

Francos, who was at the center of the austerity program, is expected to speed up those measures.

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