UPDATE 1-Argentina Treasury minister resigns, says 'significant renewal' needed amid economic crisis

By Eliana Raszewski

(Adds context, background and amends quote in second paragraph)

By Eliana Raszewski

BUENOS AIRES, Aug 17 (Reuters) - Argentina´s Treasury Minister Nicolas Dujovne has resigned, saying in a letter seen by Reuters on Saturday he believed the government needed “significant renewal” in its economic team amid a crisis which saw the peso plunge this week.

Dujovne said in a letter to Argentine President Mauricio Macri that he had given his “all” to the job, helped tame a significant deficit and trim public spending.

“We have made mistakes as well, without a doubt, we never hesitate to recognize that and did all that was possible to correct them,” he added.

“I believe my resignation is in keeping with my place in a government… that listens to the people and acts accordingly,” he added.

Macri has appointed Hernan Lacunza, the current economy minister for Buenos Aires province, as Dujovne´s replacement, a government source told Reuters.

Argentina´s peso was in free-fall for most of this week after a shock primary election result on Sunday, when centre-left Peronist candidate Alberto Fernandez trounced centre-right Macri, in what was widely seen as a referendum on the government's seeking of a loan from the International Monetary Fund and austerity measures it took as a condition for the loan.

The peso depreciated 21% by the end of the week and on Friday, in a fresh blow to Macri, ratings agencies Fitch and S&P downgraded Argentina´s sovereign debt rating, raising the specter of a default as the October election approaches.

Lacunza is the former general manager of Argentina´s Central Bank and also of the Buenos Aires City Bank. ( Reporting Eliana Raszewski; writing by Aislinn Laing; Editing by Marguerita Choy)