MercoPress. South Atlantic News Agency

Argentina: Breaking News

Argentine Economy Minister Roberto Lavagna, who helped pull the country out of its worst recession on record, was ousted as part of a cabinet shuffle. The nation's stocks, bonds and the currency tumbled.

President Nestor Kirchner named the president of state-owned Banco de la Nacion, Felisa Miceli, to the post, Cabinet Chief Alberto Fernandez told reporters at the presidential palace in Buenos Aires.

Kirchner also replaced Foreign Minister Rafael Bielsa with the deputy foreign minister, Jorge Taiana, Fernandez said.

A big surprise was generated by the designation of Ambassador in Venezuela Nilda Garre as the new Defense Minister in replacement of Jose Pampuro.

Another Santa Cruz official ally will be ahead of the Minister of Social Development: Juan Carlos Nadalich.

Those three changes were expected as the ministers' were elected to congress in October legislative elections