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Argentina Faces Fresh Turmoil From Resignation, Debt Downgrades

  • Economy minister Nicolas Dujovne stepped down on Saturday
  • Presidential front-runner: ‘impossible’ to repay IMF on time
Alberto Fernandez
Alberto FernandezPhotographer: Sarah Pabst/Bloomberg
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Life just got a whole lot tougher for Argentina’s Mauricio Macri a week after his shock primary-election defeat sent markets into a tailspin.

The embattled president is suddenly grappling with the resignation of his economy minister and a double downgrade to the nation’s debt. Meanwhile, his opponent Alberto Fernandez, now favorite to win the presidency on Oct. 27, is calling on Macri to renegotiate the terms of a record $56 billion credit line with the International Monetary Fund.