Argentina’s president-elect announces his pick for economy minister – Winnipeg Free Press

BUENOS AIRES, Argentina (AP) — Argentina’s President-elect Javier Milei announced Wednesday he has chosen Luis Caputo, a former finance minister and Central Bank chief known as an expert in markets, to lead the Economy Ministry when the right-wing leader takes office on Dec. 10.

The pick confirms that Milei, a libertarian outside r, is building a more orthodox team to manage Argentina’s economy, which is suffering from red-hot inflation running at an annual rate of 143%.

“Yes, the economy minister is Luis Caputo,” Milei said in a radio interview shortly after landing from a two-day trip to the United States, where he met with officials from the Biden administration.

Argentina’s President-elect Javier Milei walks down the steps of the Eisenhower Executive Office Building on the White House campus after a meeting with National Security Adviser Jake Sullivan, Tuesday, Nov. 28, 2023, in Washington. (AP Photo/Evan Vucci)

As the first finance minister in former conservative President Mauricio Macri’s government, Caputo was in charge of a debt restructuring and later became Central Bank chief. Milei has said he wants to get rid of the Central Bank.

Macri’s party backed Milei in the Nov. 19 presidential runoff and now his allies are jockeying for positions inside the president-elect’s Cabinet, leading to some tensions with his traditional libertarian allies.

The market has welcomed signs of Milei’s more orthodox choices for key Cabinet positions. Argentine stocks and bonds have increased while the local currency, the peso, has appreciated slightly in financial markets since he won the election.