New Economy Minister seen as best hope to boost Argentine economy.(Brief Article)

BUENOS AIRES -- Faced with plunging public confidence, weak markets and a consensus that efforts to revive the economy had almost completely failed, President Fernando de la Rua accepted the resignation of Economy Minister Jose Luis Machinea and replaced him with conservative Radical party figure with Ricardo Lopez Murphy, who Defense Minister. The move pleased investors but seems sure to cause further instability in the ruling Alianza coalition.

Although de la Rua would have had plenty of reason to fire Machinea, who succeeded in negotiating the $40 billion bailout of the ...

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