Argentina's Treasury Minister Resigns, Senior Official Says

BUENOS AIRES, Argentina — Argentina's treasury minister, Nicolas Dujovne, resigned Saturday and will be replaced by the economy minister of the country's most populous state, a senior official in the presidential office said.

The resignation came three days after President Mauricio Macri announced his conservative administration was temporarily increasing the minimum wage, reducing payroll taxes and implementing other steps to help Argentine workers as the country struggles to overcome sizzling inflation, high unemployment and other economic problems.

Macri acted after a leftist presidential slate that includes his predecessor, Cristina Fernandez, turned in a powerful showing last Sunday in primary voting for candidates going into October general elections. Macri's slate did poorly, and the already weak Argentine peso slumped and stock prices fell sharply as investors worried about the vote results.

In his resignation letter, Dujovne reportedly said the government needed to make ``a significant overhaul in the economic area.'' He said the administration had made strides in reducing the government's deficit and reducing taxes, but added that ``we undoubtedly made mistakes.''

The presidency official, who agreed to confirm the resignation only if not quoted by name, said Dujovne would be replaced by Hernan Lacunza, the economy minister for Buenos Aires province. Lacunza previously was general manager of the Central Bank.