Opposition candidate leads Argentina's primary polls
Opposition candidate leads Argentina's primary polls
Monday Panic Awaits Argentine Markets After Macri Routed in Vote
16 August, 2019, 16:27
The left-wing pair won nearly half of the votes in the primary elections ahead of October's presidential ballot while incumbent Mauricio Macri's share slumped to just one-third in the poll.
Since all major parties have already selected their presidential candidates and political parties hold their primaries simultaneously, the vote served as a pre-election opinion poll to gauge how candidates will fare in the presidential election of October 27 and the potential November 24 run-off.
As recent polls show the pair with a narrow lead, markets are bracing for the Fernandez ticket to come out ahead of Macri in Sunday's primary, said Credit Suisse analyst Casey Reckman.
The primary elections to select presidential candidates occurred two months ahead of the first round of the general elections scheduled for October 27.
Official results showed that in the primary elections that featured 10 presidential candidates, Macri and his vice presidential running mate, Miguel Angel Pichetto, of the ruling party received just 32.08 percent of the votes, with 98.67 percent of the ballots counted, while Alberto Fernandez and his vice presidential running mate, ex-president and current Senator Cristina Fernandez, of the opposition party Frente de Todos - Front of All - garnered 47.65 percent.
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"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 is now in recession.
"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.
But Fernandez says he will review the arrangements with the International Monetary Fund and drop Macri's austerity measures.
Re-electing Macri would mean seeing through painful cuts in public spending as part of the $57 billion standby agreement he negotiated with the International Monetary Fund past year. The peso has lost nearly one-third of its value so far this year, making it the worst performing currency in the world. "We always fix the problems that others create".
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