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Argentine production minister named BICE president as part of cabinet rejig

Argentina's Production Minister Francisco Cabrera will become the president of Banco de Inversión y Comercio Exterior SA, and will also be an adviser to President Mauricio Macri, Reuters reported.

The move is part of a reshuffling in the Argentine cabinet, as the country continues to face currency volatility despite a $50 billion financing agreement with the International Monetary Fund.

The government earlier named Finance Minister Luis Caputo as president of Banco Central de la República Argentina following the resignation of Federico Sturzenegger.

Meanwhile, Dante Sica, an economist and former secretary of industry, commerce and mining, will replace Cabrera as production minister.

The Argentine government also named Javier Iguacel, former administrator general of the country's national road agency, as energy minister, replacing Juan José Aranguren.