Mauricio Macri's government was
defeated Sunday in Argentina’s primary elections, with the one-term incumbent receiving 32.1% of the vote while his left wing challenger, Alberto Fernández, received more than 47%. The primaries, a precursor to the final vote, are open to all eligible voters, and given Macri’s loss it is almost impossible for him to reverse that result in the presidential elections on October 27.
The main reason for his defeat was that after almost four years in office, all the variables of the macro-economy worsened: inflation went from 25% to 50%, the dollar went from 15 pesos to 45 (and it is possible that it may jump to 60!), poverty increased from 30% to 34%, debt to the IMF multiplied, and the nation fell deeper into recession. The reasons for Macri’s failure are complex.
The victory of Alberto Fernández, whose running mate is former President Cristina Fernández de Kirchner (CFK), implies more of a turn towards the left-center through a Peronist coalition than the return of Kirchnerism. Two months ago, CFK announced that she would not run for president, despite being a popular yet polarizing politician. So she nominated Alberto Fernández – former chief of ministers to her husband Néstor Kirchner – who had previously resigned from CFK’s camp and begun criticizing her management decisions.
