UPDATE 1-Argentina's Fernandez unveils new cabinet, taps Martin Guzman for top economic job

Argentine President-elect Alberto Fernandez unveiled his cabinet on Friday evening, laying out his core team days before the center-left leader takes office facing a stalled economy, rising debt fears, and painful inflation.

Fernandez named Martin Guzman as economy minister, who will need to help steer debt restructuring negotiations with international creditors and the International Monetary Fund over around $100 billion in sovereign debt. Guzman, a young academic and protégé of Nobel Prize-winning economist Joseph Stiglitz, is considered an expert in the field of debt restructuring, though he has little hands-on experience in policymaking.

Matias Kulfas, who previously held government and central bank positions, was named as production minister. Young political scientist Santiago Cafiero, heir to a historic Peronist family, was named Cabinet chief, and former Buenos Aires Governor Felipe Sola was tapped as foreign minister. Peronist Fernandez, who takes over from conservative leader Mauricio Macri, will be sworn into office on Dec. 10.

Vice President-elect Cristina Fernandez de Kirchner, a divisive former president, was not present at the event when Fernandez announced his picks.

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