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Argentine economy minister resigns amid spiralling crisis

Buenos Aires: Argentina’s Economy Minister Nicolas Dujovne resigned Saturday after a week of economic tumult caused by President Mauricio Macri’s defeat in a primary poll ahead of a general election. Dujovne will be replaced by Hernan Lacunza, economy minister for Buenos Aires province, Argentine media reported. The country’s peso ended the week having shed 20 percent of its value against the US dollar as both Fitch and S&P cut the South American country’s long-term credit rating, citing increased uncertainty and a rising risk of default. (AFP)

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