President Fernando De La Rua has submitted his resignation, a high-ranking official said, with the government collapsing amid deadly rioting and looting sparked by widespread anger over the President`s handling of a deepening economic crisis. The resignation followed two days of clashes between police and protesters. On Thursday, police battled hundreds of demonstrators in the streets of the Argentine capital, while looters ransacked homes and supermarkets nationwide.

"The resignation must be approved by Congress before taking effect," officials said. Lawmakers were expected to accept De La Rua`s decision to step down, two years earlier than the end of his term.
The President signed the resignation on Thursday afternoon, said the official, who is close to De La Rua. The official spoke in a telephone interview on condition of anonymity.

Local reports said that De La Rua`s last-minute efforts to cobble together a National Unity government, together with the major Opposition party, were encountering resistance.
Bureau Report