A Peronist politician has been named Argentina's caretaker president.
Mr Ramon Puerta was appointed this afternoon after Congress accepted the resignation of Mr Fernando de la Rua.
Earlier, the outgoing president attacked the Peronists for failing to join him in a government of national unity.
Mr Fernando De la Rua, who resigned yesterday, claims the Peronists made a mistake in refusing to join him in a reorganised government.
This afternoon, Mr De la Rua lifted the state of emergency he imposed to tackle the wave of violent protests sweeping the country.
At least 25 people have died in the four days of looting and clashes with police over economic austerity measures imposed by the outgoing government to try to avert an economic meltdown.
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Mr Fernando de la Rua (L) with Mr Ramon Puerta earlier this month. Photograph: Reuters
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Mr Puerta faces $132 billion in public debt and the prospect of insolvency or devaluation. The new leader will also have to wrestle with rampant rioting and looting that continues to reign .
Trade unions meanwhile have called a general strike until the effective state of emergency - due to remain in place for 30 days - is lifted.
Just hours before Congress met this afternoon, protesters furious at deepening austerity and poverty ransacked shops in Buenos Aires' theater district in a free-for-all as police attempted to disperse rioters elsewhere in the city with rubber bullets, tear gas and water cannons.
"It is total anarchy," one shopkeeper told local television as looters smashed store windows and swiped at passing cars with metal bars. "These people are not hungry. They are just stealing."