Silvina Batakis is Argentina’s new economy minister after the sudden resignation of her predecessor Martin Guzman who has been held responsible for Argentina’s financial crisis.
Guzman, who resigned on Saturday, has reportedly accumulated a $44 billion debt restructuring deal with the International Monetary Fund (IMF).
Batakis, who is also known as La Griega (I Ellinida), is a second generation Argentinian, daughter of Greek immigrants who appears to be popular due to her views on increasing public spending.
Her appointment to economy minister was announced on Twitter by Argentina’s President Alberto Fernandez, promising that a new policy will help alleviate the country’s inflation, currently sitting above 60 per cent.
The extremely high fiscal deficit, has brought about fears of debt-induced defaults with a further devaluation of the peso currency set to push Argentinians further down the poverty line.
Batakis’ new role coincides with public uproar and clashes with the militant wing of the Peron-aligned ruling party who disapproved Guzman’s economic policy.
The 53-year-old brings previously served as Secretary of Provinces in the Ministry of the Interior, and as economy minister for Argentina’s biggest and wealthiest province, Buenos Aires, from 2011 to 2015.
