Debt Swap Chief Lorenzino to Be Argentina Economy Minister

Argentine Finance Secretary Hernan Lorenzino, who helped oversee a $12.9 billion defaulted debt restructuring last year, will be the country’s next Economy Minister. Bonds rallied.

Lorenzino, 39, will help determine whether South America’s second-biggest economy returns to international debt markets for the first time since a record 2001 default on $95 billion of bonds. He will also be charged with tackling annual inflation economists estimate is running at 25 percent, the fastest in the world among major economies after Venezuela.