Argentina's election primary on Sunday will determine President Mauricio Ma...
BUENOS AIRES - Argentina’s election primary on Sunday will determine President Mauricio Macri’s chances of winning a second term in October, with the country’s embattled peso currency expected to take a fresh beating next week if the business-friendly leader fares worse than expected.
The big question is whether Fernandez or Macri can win in the first round of the general election on Oct. 27. To avoid a second-round runoff in November, one candidate would have to clinch at least 45% of the October vote. As unhappy as they are about Argentina’s recession and high inflation, business leaders - and many well-to-do voters - say they are more concerned about a possible return to populism and intervention in the markets under the Peronists.“The potential panickers are middle- and upper-class Argentines, who will sell their pesos if it looks like Fernandez is going to win the presidency. This would pressure the exchange rate,” Burdman said.
Kirchner is facing multiple corruption charges, all of which she denies. Critics say she nearly bankrupted the country after years of high deficits and heavy-handed currency controls that scared off investment and spurred capital flight during her two terms as president.
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