Buenos Aires, December 10 (teleSUR-RHC)-- Argentinean Central Bank President Alejandro Vanoli has resigned under strong pressure from Argentinian President Mauricio Macri.

"I am taking this decision in the context of the election result and after some deep reflection, with serenity and the spirit of having demonstrated and defended my commitment to our country and our people," Vanoli announced in a written letter addressed to outgoing President Cristina Fernández. 
 
The decision clears the way for Macri to adopt measures for incentive private investment, the lifting of currency and capital controls, as well as the elimination of agricultural export restrictions.

In order to achieve this, Macri is expected to tap economist Federico Sturzenegger to replace Vanoli.  A U.S.-trained economist and former president of state-run Banco Ciudad, Sturgzenegger is currently a member of Argentina's Congress.

During his tenure, Vanoli, who was appointed as the central bank president for a five-year term in 2014 introduced interventionist fiscal policies such as the tightening of foreign exchange controls. 

"An abrupt currency devaluation is not a path the nation's economy should follow," Vanoli wrote in the six-page letter. "If the president-elect forces a violent devaluation, it will only be because of his policy decisions."

The news of Vanioli’s departure comes as the new Argentinean administration announced it is ready to begin talks with holdout creditors as soon as it takes office.