Media project dismissal of Argentine Minister of Economy

Argentina’s president will fire economy minister Silvina Batakis after a few weeks in office, local newspapers Clarín and La Nación reported on Wednesday, citing official sources.

Both newspapers said that President Alberto Fernández will appoint the head of the Lower House of Congress, Sergio Massa, as Batakis’s replacement.

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The economy ministry and the president’s office did not immediately respond to requests for comment.

Massa, on his side, denied on his Twitter account that he had received an offer to fill the position from Batakis, considered to be a heterodox economist and who took the position in early July.

“I see a lot of rumors and versions. I didn’t have any offer and I just agreed to talk with the president about the work schedule between Friday and Saturday,” he said.

“When you have something to say or the government decides to announce something, it will be done through the corresponding channels.”

Reports of the change in ministry come as Batakis is returning from Washington, where she traveled over the weekend for meetings with officials from the International Monetary Fund, the US State Department and the World Bank. She also held meetings with investors.

The third largest economy in Latin America is in a difficult financial situation, aggravated weeks ago by the resignation of the previous economy minister, Martín Guzmán, after pressure from the left wing of the government coalition to leave office.

His sudden resignation led to a sharp devaluation of the peso in the parallel markets and a rise in already galloping inflation, which triggered doubts about the future of the economy.