Argentina presidential elections set for March 3

Senate President Ramon Puerta said he does not want to be interim president.

BUENOS AIRES, Argentina (CNN) -- With its economy in tatters and the nation shaken by deadly protests, Argentina's interim president said he was stepping aside.

Ramon Puerta, who is the country's Senate leader, had said he did not want the interim position following Thursday's resignation of President Fernando De la Rua. New presidential have been set for March 3, he said.

Shortly after the Argentine Legislative Assembly formally named him the interim president, Puerta tapped provincial governor Adolfo Rodriguez Saa for the post. Saa still must be officially confirmed by the assembly Saturday.

VIDEO President Fernando de la Rua resigns and flies away after two days of rioting. CNN's Lucia Newman reports (December 21) Play video (QuickTime, Real or Windows Media) How financial markets are trying to contain the crisis: CNNfn's Kitty Pilgrim reports (December 21) Play video (QuickTime, Real or Windows Media)   MORE STORIES World gov'ts urge democratic answer to Argentina crisis    EXTRA INFORMATION De la Rua: Promises fizzled out    RESOURCES • Message board: Argentina

Meanwhile, an Argentine judge issued an order barring De la Rua from leaving the country pending an investigation into the way the government handled this week's protests.

De la Rua resigned Thursday after two days of bloody rioting sparked by the country's economic woes and after the opposition Peronist Party refused to form a coalition government.

The streets were largely calm Friday, although there were a few peaceful protests and some looting was reported on the outskirts of the city.

Before the legislative vote Friday, De la Rua lifted the 30-day state of siege he imposed late Wednesday in an effort to quell the riots. The declaration suspended constitutional rights and gave the government wide-ranging power to stop the violence, which resulted in more than 20 deaths and scores of arrests.

De la Rua blamed the opposition Peronists for "submitting this country into a political vacuum."

Some lawmakers from his Radical Civic Union Party were pushing for a coalition government, or "government of national salvation," that could reach a consensus on what steps should be taken to rescue Argentina from its economic and political crises.

Argentina, with an unemployment rate of nearly 20 percent, is edging closer to defaulting on its $132 billion debt -- which would be the world's biggest debt default -- following a four-year recession. The nation also may devalue the peso by ending its decade-old pegging to the U.S. dollar, financial analysts said.

After De la Rua's resigned Thursday, Fitch, an international rating agency, said the default by the Argentine government -- South America's second-largest economy -- on about $97 billion of outstanding debt -- was "imminent." Fitch gave Argentina's bonds a "DDD" rating, which relegates them to junk status.

"Argentina's default will be the largest default by any debtor," Fitch said.

Stumbling under a four-year recession, the Argentine government implemented stark austerity measures over the summer. But the International Monetary Fund has so far refused to release a $1.3 billion loan payment, saying the country has failed to balance its budget despite the plan.