Colombian President Gustavo Petro named Ricardo Bonilla as finance minister in a Cabinet reshuffle on Wednesday, despite market anxiety over former minister Jose Antonio Ocampo remaining in the job.
Petro asked for resignations from all of his Cabinet late on Tuesday after a debate on a health reform was abandoned by the lower house because the necessary quorum was not reached.
The reshuffle prompted a fall in the peso, stock market and domestic Treasury bonds, but analysts said an end to the coalition may mean less radical reforms and more stability for businesses.
Ocampo, a longtime public figure who is on public service leave from his job at Columbia University, had been seen as a stabilizing force by the market and guided the approval of an ambitious tax reform last year by congress.
(Reporting by Julia Symmes Cobb; editing by Jonathan Oatis)
