Kezia McKeague, regional director at McLarty Associates: “Guzmán’s resignation appeared abrupt but was a long time in the making. While tensions within the governing coalition intensified following its loss in the 2021 midterm elections, the conclusion of the IMF deal early this year caused an even greater rift. Most recently, Guzmán struggled against political constraints to implement the program he had negotiated with the Fund, particularly on a plan to alter public utility subsidies. As inflation accelerated and economic conditions worsened, Guzmán came under increasing pressure from Vice President Fernández de Kirchner. The lack of more fulsome political support from President Fernández may have been the last straw for the frustrated minister, who had an impressively lengthy tenure by Argentine standards. In his place, heterodox economist and career civil servant…”
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