Colombian President Gustavo Petro named Ricardo Bonilla as finance minister in a cabinet reshuffle, replacing Jose Antonio Ocampo.
Petro asked for resignations from all of his cabinet late on Tuesday after the lower house abandoned a debate on a health reform, prompting Petro to declare his congressional coalition fractured.
The reshuffle prompted a fall in the peso, stock market and domestic Treasury bonds, but analysts said the coalition's end may mean less radical reforms and more stability for businesses.
Petro also replaced his health, interior, agriculture, science, technology and transport ministers.
A debate on the president's health reform had to be abandoned after not reaching the necessary quorum.
"Petro came into power promising change and he will put in place people that he feels will not hesitate to push his reforms and ideas," said Juan Perez, director of trading at Monex USA in Washington.
"Colombia is yet to have a definite direction as it shuffles ideas about land, health, as well as pension reform. All items that could slow down economic progress, but thus far have yet not done so."
(FRANCE 24 with REUTERS)
