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Argentina elections may restore the Peronist trend to power

Argentina elections may restore the Peronist trend to power

Fears of a “catastrophe” at the height of a stifling economic crisis … but the options are limited

Sunday – Safar 28, 1441 AH – October 27, 2019 AD number [
14943]

Fernandez sought to “reassure” Argentines by excluding the specter of an economic crisis similar to the one that occurred in 2001 when the amounts that could be withdrawn from markets were determined (AFP)

Buenos Aires: «Middle East»

The elections in Argentina come at a time when South America is experiencing great tension with protest movements in Chile and Bolivia, weeks after the demonstrations in Ecuador.
Argentina is experiencing a severe economic crisis from more than a year-long deflation, massive inflation and massive debt, while poverty has increased. The political scene, and the suffocating crises that a number of Latin American countries are experiencing recurring in Argentina, where 34 million voters are heading to vote today, Sunday, in which two competing paradigms are facing to confront the worst economic crisis in the country in 17 years. Opinion polls suggest that left-wing opponent Alberto Fernandez, with the candidate to take over as Vice President Christina Kirchner, will beat outgoing liberal president Mauricio Macri.
Alberto Fernandez and the former president of the country (2007-2015) advanced 17 points over Macri in the primaries in August, and constituted a general test for the presidential poll. Surveys indicate that this difference is so wide that it could allow a second round not to be organized. To win from the first round, the candidate is supposed to receive more than 45 percent of the vote, or forty percent, and ten points more than his opponent. If the two candidates draw, a second round will be held on November 24. As Fernandez and Macri advance, the 51 per cent of vote intentions are distributed among the four candidates, led by former Economy Minister Roberto Lavania. Argentine Interior Minister Rogelio Frijerio said that the initial results will be known around midnight on Monday.
This week the market tension led to a new decline in the exchange rate of the Bezos 5.8 per cent and the exchange rate of the dollar rose from 60.73 Bezos last Friday to 64.51 at the close.
Observers believe that the return of the Peruvian current to power would be a “disaster.” “I will never elect Fernandez and Kirchner,” said Alejandro Argelho, 53, at the last Macri election rally in Cordoba. They have been tested before. ”
“Hope was born again (…) Christian and Alberto represent that,” said teacher Jose Murad, 44, who participated in the last election festival of Fernandez and Kirchner Thursday evening in Mar del Plata.
Fernandez sought to “reassure” Argentines by excluding the specter of an economic crisis similar to the one that occurred in 2001 when the amounts that could be withdrawn from the markets and the transfer of deposits in dollars into the country’s currency were determined by Bezos. He said: «We will protect your savings and take care of your bank deposits in dollars. Do not worry”. With decades of inflation and a devaluation of the local currency, Argentines are used to turning to the dollar. The value of the Argentine currency has fallen by 70 percent since January 2018.
“I came to exchange Bezos to the dollar because, given that the elections are coming, we know that the prices of goods will rise,” Christian Golan, 23, a taxi driver, told Agence France Presse at the entrance to a banking office. “Buying dollars is very difficult,” said Barbara, a 29-year-old student. There are some areas where the dollar is no longer available and includes a large population. There are areas where the dollar is spent on the black market at 71 pesos. ”

In mid 2008, at the height of monetary chaos, Macri launched a tough tax program after the International Monetary Fund offered $ 57 billion. Macri is awaiting the election results to negotiate a remaining $ 13 billion tranche. He raised the slogan “Yes we can achieve this,” and calls on voters to give him confidence, stressing that an economic improvement is imminent after “strengthening the foundations of the market” thanks to his program. For his part, Alberto Fernandez proposed to unions and social movements a 180-day truce to resume economic growth.

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