Fernández’s Rise in Argentina: Bloomberg

Alberto Fernández’s began planning to run as Argentina’s president early in 2018 when current President Mauricio Macri was still popular and the economy showed signs of recovery. He set out to unite splintered Peronists who favor workers over business owners and reconcile with former President Cristina Fernández de Kirchner as his deputy. Fernández had resigned from her cabinet after she tried to hike export tariffs. Now, he is expected to win the October 27 election, and investors and creditors express concern about Kirchner’s populist influence. “During her eight-year tenure, she implemented currency controls, kept the country in default and faked economic data, cutting Argentina off from global markets. With those memories still fresh, the peso plunged 26 percent in August after Fernández’s primary victory and sovereign bonds suffered a historic collapse,” reports Bloomberg. Fernández, described as a leftist, has long worked in politics but never held office. Analysts suggest Fernández may be more moderate than expected amid promises to increase wages, reduce interest rates, ease inflation and renegotiate Argentina’s debt. UPDATE: Fernandez won the election. – YaleGlobal