Economics

Prat-Gay Fired as Argentine Finance Minister After One Year

Finance Ministry to split into two: Finance and Economy
Caputo will become Finance Minister, Dujovne Economy Minister

Alfonso Prat Gay
Photographer: Louis Lanzano/Bloomberg

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By Pablo Rosendo Gonzalez and Jonathan Gilbert

December 26, 2016 at 3:27 PM UTC

Updated on

December 27, 2016 at 3:06 PM UTC

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Alfonso Prat-Gay was fired as Argentina’s Finance Minister after just one year in the post as a long-heralded recovery in the economy fails to materialize.

The ministry he headed will now be split into two, with Luis Caputo, who was finance secretary, heading the new Finance Ministry and Nicolas Dujovne overseeing the Economy Ministry, Cabinet Chief Marcos Pena told a press conference in Buenos Aires on Monday. Prat-Gay plans to speaks to reporters at 4 p.m. on Tuesday, Yael Bialostozky, the departing minister’s spokeswoman said in a text message.