Argentines lose patience with economy and Macri

Elias Hubbard
August 13, 2019

An outright election in the first round of the presidential vote demands at least 45 percent of the votes or 40 percent plus a greater than 10-point advantage over the closest rival.

"For those who didn't vote for me, I promise to work hard so they understand me", said Fernandez to thousands of cheering supporters in Buenos Aires.

Guests wait for the arrival of presidential candidate Alberto Fernandez during the primary elections, at a cultural centre in Buenos Aires, Argentina, August 11, 2019.

"We are going to fix, what the others have broken", he added.

Political analyst Raul Aragon had said before the vote that "it would be very hard to claw back a difference of five points due to polarisation: there's no scope to claim votes". Markets are also anxious over de Kirchner, whose years as president from 2007 to 2015 were marked by a balance of payments crisis, interventionist state policies, currency controls and protectionism.

Speaking in southern Brazil, Bolsonaro warned, "we don't want that: Argentine brothers fleeing over here, seeing how terrible it could get if the result of the vote yesterday is confirmed in October", he said.

"Recognizing that we have had a bad election, that forces us, starting tomorrow, to redouble our efforts so that in October we will get the support that is needed to continue the change", Macri said.

Argentina's peso currency collapsed on Monday and inflation was expected to rise as voters flirted with a return to interventionist economics by snubbing market-friendly Macri for the opposition in a primary vote on Sunday. She now faces multiple corruption probes.

Ever since taking office, Macri has blamed Argentina's economic woes on the polices enacted by three successive Kirchner governments - Cristina Kirchner's 2007-15 time in office was preceded by a single term for her late husband Nestor.

Argentina is in a deep recession, and inflation for the first six months of the year is at 22%.

Poverty now affects 32 per cent of the population.

The peso lost half of its value against the dollar past year.

Meanwhile, the Buenos Aires stock exchange tumbled by nearly 38 percent on Monday as markets reacted following Mauricio Macri's defeat in the party primaries over the weekend, AP reported.

The markets have little faith in Fernandez, who is widely seen as dependent on Kirchner, but that made scant difference to voters.

Other reports by Click Lancashire

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