Argentina was paralyzed by a general strike on Tuesday while the central bank chief resigned amid talks with the International Monetary Fund on a revised crisis loan package.
As president Mauricio Macri negotiated accelerated funding from a $50 billion loan agreed with the IMF in June, the country’s beleaguered currency was hit by the news that Luis Caputo had been replaced by Guido Sandleris as central bank chief.
The peso almost immediately slumped 2.2 percent against the dollar.
The IMF seemed to approve of the change, spokesman Gerry Rice expressing the desire to continue its “close and constructive relationship” with Argentina’s central bank.
Later, IMF chief Christine Lagarde said a deal with Argentina was “close to the finish line” after a “very good meeting” with Macri on the sidelines of the UN General Assembly in New York.