Argentine President, Mr Adolfo Rodriguez Saa, is still considering the offer from his week-old cabinet to resign while also calling on the country’s banks to help in the efforts to restore calm.
The cabinet submitted its collective resignation yesterday after renewed unrest over economic policies and unpopular government officials.
Austerity measures introduced by the government led to riots toppled the former Argentine president, Mr Fernando de la Rua.
Thousands of people took to the streets overnight Friday and yesterday demanding the release of their money, which has been frozen in bank accounts.
The largely peaceful protests turned violent when a group of teenagers tried to storm the presidential palace and clashed with riot police, who used tear gas and pressure hoses to break up the crowd.
Another crowd stormed the Congress building, torching curtains and ruining furniture before they were ousted by police.
"I deeply deplore the incidents of violence," said Mr Rodriguez Saa in a brief statement yesterday. "I call on all Argentines to maintain peace."
The president also asked the country's banks to help re-establish peace by facilitating the payment of pensions and salaries to workers and retirees.
He said during a meeting with business community leaders he had asked banks to remain open from 8.00 am to 8.00 p.m. tomorrow to be able to cash checks of up to 1,000 pesos or 1,000 dollars per person.
Meanwhile, the Argentine president received an encouraging telephone call from US President Mr George W. Bush, who urged him to stick with a strict IMF-approved economic plan.
Bush "emphasised the need for the Argentine government to develop a sustainable economic plan and work closely with international financial institutions to do so," White House spokesman Mr Scott McClellan told reporters at the president's ranch in Crawford, Texas.
PA