Argentina has been plunged into further crisis after finance minister Martín Guzmán quit suddenly amid a split within the ruling Peronist coalition, unnerving investors already concerned about spiralling inflation and dire public finances.  

Guzmán, who had led negotiations with the IMF and private sector debtors, announced his resignation on Twitter on Saturday evening. He published a seven-page letter in which he cited “political agreement within the governing coalition” as a key factor needed by his successor — a reference to government infighting.

An ally of President Alberto Fernández, Guzmán is the latest and most senior of four cabinet members to step down in recent months. His departure deals a further blow to the president, who is facing dismal poll ratings, inflation forecast to exceed 70 per cent this year and sovereign bond prices in distressed territory.