Argentine President Alberto Fernandez says will not stand for re-election

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Argentine President Alberto Fernandez says will not stand for re-election
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Argentina's Economy Minister Sergio Massa, 50, has been cited as a potential candidate to replace Fernandez in the October presidential polls

Argentine President Alberto Fernandez has announced that he will not stand for reelection in October's vote -- a surprise move that deepened uncertainty in the crisis-wracked country.

"Next December 10, 2023, is the exact day on which we will mark 40 years of democracy. On this day I will hand over the presidential sash to whomever has been legitimately elected by popular vote at the polls," Fernandez said in the clip. That announcement came shortly after the 70-year-old was convicted of fraud and corruption during her presidency -- although she has been spared prison by her parliamentary immunity.READ MORE Argentina leader discusses Falkland Islands dispute with UN chiefBuenos Aires Mayor Horacio Larreta, and Patricia Bullrich, Macri's former security minister, have both put themselves forward for the Juntos por el Cambio opposition coalition.

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